Saudi Central Bank raised its holdings in Gen Digital Inc. (NASDAQ:GEN – Free Report) by 91.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,096 shares of the company’s stock after buying an additional 17,747 shares during the period. Saudi Central Bank’s holdings in Gen Digital were worth $923,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp lifted its holdings in Gen Digital by 3.4% during the 3rd quarter. State Street Corp now owns 30,558,806 shares of the company’s stock valued at $867,565,000 after purchasing an additional 1,015,755 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Gen Digital by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company’s stock valued at $660,730,000 after purchasing an additional 1,406,869 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Gen Digital by 22.3% in the fourth quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock valued at $542,211,000 after purchasing an additional 3,640,451 shares during the last quarter. Boston Partners raised its position in shares of Gen Digital by 14.3% in the fourth quarter. Boston Partners now owns 15,644,289 shares of the company’s stock valued at $425,336,000 after purchasing an additional 1,954,712 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Gen Digital by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 15,592,196 shares of the company’s stock valued at $422,461,000 after purchasing an additional 129,413 shares during the period. 81.38% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently commented on the stock. Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Wells Fargo & Company boosted their price objective on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Barclays upped their target price on Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada increased their target price on Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gen Digital currently has a consensus rating of “Hold” and a consensus target price of $31.60.
Gen Digital Stock Performance
Shares of NASDAQ:GEN opened at $29.76 on Thursday. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $31.65. The company’s 50 day moving average price is $28.06 and its two-hundred day moving average price is $24.19. The firm has a market cap of $17.81 billion, a PE ratio of 17.30, a PEG ratio of 0.94 and a beta of 1.22. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00.
Gen Digital (NASDAQ:GEN – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. Equities research analysts predict that Gen Digital Inc. will post 2.64 earnings per share for the current year.
Gen Digital Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 17th were given a $0.125 dividend. The ex-dividend date was Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. Gen Digital’s dividend payout ratio (DPR) is presently 29.07%.
Insider Buying and Selling
In other Gen Digital news, Director Ondrej Vlcek sold 200,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the sale, the director directly owned 3,332,904 shares in the company, valued at $99,987,120. This represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Travis Witteveen sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the completion of the transaction, the insider directly owned 496,545 shares in the company, valued at approximately $14,608,353.90. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 558,508 shares of company stock worth $16,356,093. Company insiders own 9.70% of the company’s stock.
Gen Digital Profile
Gen Digital Inc (NASDAQ: GEN) is a global cybersecurity and consumer safety company that provides products designed to help individuals and families protect their devices, online identities, personal information and digital privacy. The company serves customers through a portfolio of consumer-focused cybersecurity and privacy brands.
Its products and services include antivirus and device security, identity theft protection, virtual private networks, password management, online privacy tools, scam protection and family safety features.
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