TD Asset Management Inc Cuts Stake in Gen Digital Inc. $GEN

TD Asset Management Inc lowered its holdings in shares of Gen Digital Inc. (NASDAQ:GEN) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 803,452 shares of the company’s stock after selling 33,070 shares during the quarter. TD Asset Management Inc owned approximately 0.13% of Gen Digital worth $21,846,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GEN. Arrowstreet Capital Limited Partnership grew its position in shares of Gen Digital by 46.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 6,600,836 shares of the company’s stock worth $187,398,000 after purchasing an additional 2,103,335 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Gen Digital by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company’s stock worth $660,730,000 after purchasing an additional 1,406,869 shares in the last quarter. Norges Bank bought a new position in Gen Digital during the fourth quarter valued at approximately $31,991,000. Qube Research & Technologies Ltd boosted its stake in Gen Digital by 72.8% during the third quarter. Qube Research & Technologies Ltd now owns 2,786,250 shares of the company’s stock valued at $79,102,000 after buying an additional 1,174,048 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Gen Digital by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 73,310,110 shares of the company’s stock valued at $1,993,302,000 after buying an additional 1,096,313 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays increased their price target on Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Wall Street Zen raised Gen Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Wells Fargo & Company assumed coverage on Gen Digital in a research note on Tuesday, March 3rd. They set an “equal weight” rating and a $22.00 price target for the company. Jefferies Financial Group lowered Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Argus raised Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Gen Digital presently has a consensus rating of “Hold” and an average price target of $31.29.

Insider Activity

In related news, Director John C. Chrystal acquired 3,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was acquired at an average cost of $27.06 per share, with a total value of $81,180.00. Following the purchase, the director directly owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.30% of the stock is owned by insiders.

Gen Digital Price Performance

NASDAQ:GEN opened at $26.28 on Monday. The firm has a market capitalization of $15.83 billion, a price-to-earnings ratio of 16.63 and a beta of 1.20. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $32.22. The business has a 50 day simple moving average of $21.52 and a 200-day simple moving average of $23.64. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.40 and a quick ratio of 0.40.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The company’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period last year, the company earned $0.59 EPS. Gen Digital has set its Q1 2027 guidance at 0.680-0.700 EPS and its FY 2027 guidance at 2.850-2.950 EPS. Equities analysts forecast that Gen Digital Inc. will post 2.59 EPS for the current year.

Gen Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, May 18th. Gen Digital’s dividend payout ratio (DPR) is presently 31.65%.

Gen Digital Profile

Gen Digital (NASDAQ: GEN) is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.

Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.