Quartz Partners LLC Grows Position in Gen Digital Inc. $GEN

Quartz Partners LLC lifted its position in shares of Gen Digital Inc. (NASDAQ:GEN) by 17.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 206,510 shares of the company’s stock after buying an additional 31,111 shares during the quarter. Gen Digital accounts for approximately 1.5% of Quartz Partners LLC’s holdings, making the stock its 26th largest position. Quartz Partners LLC’s holdings in Gen Digital were worth $3,889,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. grew its holdings in Gen Digital by 5.1% in the first quarter. D.A. Davidson & CO. now owns 14,100 shares of the company’s stock valued at $266,000 after purchasing an additional 679 shares during the period. Twin Capital Management Inc. grew its stake in shares of Gen Digital by 87.9% during the 1st quarter. Twin Capital Management Inc. now owns 52,819 shares of the company’s stock valued at $995,000 after buying an additional 24,714 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Gen Digital during the 1st quarter worth $56,000. Sanctuary Advisors LLC raised its position in shares of Gen Digital by 246.1% in the 1st quarter. Sanctuary Advisors LLC now owns 26,685 shares of the company’s stock worth $502,000 after buying an additional 18,975 shares during the period. Finally, Hillsdale Investment Management Inc. raised its position in shares of Gen Digital by 16.1% in the 1st quarter. Hillsdale Investment Management Inc. now owns 29,600 shares of the company’s stock worth $557,000 after buying an additional 4,100 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling

In other Gen Digital news, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $24.78, for a total value of $2,478,000.00. Following the completion of the sale, the director owned 3,832,724 shares of the company’s stock, valued at $94,974,900.72. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Chrystal acquired 3,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were purchased at an average price of $27.06 per share, for a total transaction 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. Additional details regarding this purchase are available in the official SEC disclosure. 9.30% of the stock is owned by corporate insiders.

Gen Digital Stock Up 2.1%

Shares of NASDAQ GEN opened at $27.01 on Friday. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $32.22. The company has a market cap of $16.27 billion, a P/E ratio of 17.09 and a beta of 1.21. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.07. The stock has a fifty day moving average price of $24.97 and a 200 day moving average price of $23.25.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. 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. Research analysts anticipate that Gen Digital Inc. will post 2.59 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 18th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, May 18th. Gen Digital’s dividend payout ratio is currently 31.65%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GEN shares. Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Argus raised Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $27.00 price target on shares of Gen Digital in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.33.

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.