Wedge Capital Management L L P NC Purchases 71,815 Shares of Gen Digital Inc. $GEN

Wedge Capital Management L L P NC raised its position in Gen Digital Inc. (NASDAQ:GEN) by 27.4% in the second quarter, HoldingsChannel.com reports. The fund owned 334,073 shares of the company’s stock after purchasing an additional 71,815 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Gen Digital were worth $8,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of GEN. International Assets Investment Management LLC bought a new stake in shares of Gen Digital in the 4th quarter valued at about $27,000. Grove Bank & Trust grew its holdings in Gen Digital by 452.2% during the second quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock worth $28,000 after purchasing an additional 927 shares during the period. Weiss Asset Management LP bought a new position in Gen Digital during the first quarter worth about $41,000. TD Private Client Wealth LLC increased its position in Gen Digital by 65.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after buying an additional 611 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after buying an additional 1,183 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

GEN has been the subject of a number of recent analyst reports. Barclays raised their price objective 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. Royal Bank Of Canada boosted their target price on Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Weiss Ratings upgraded Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Argus raised shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.67.

Gen Digital Stock Down 1.3%

GEN stock opened at $28.64 on Thursday. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $32.22. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.40. The stock has a market capitalization of $17.14 billion, a price-to-earnings ratio of 16.65 and a beta of 1.21. The business’s fifty day moving average price is $26.07 and its two-hundred day moving average price is $23.39.

Gen Digital (NASDAQ:GEN) last announced its earnings results on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) 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 analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. Gen Digital’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. On average, equities analysts anticipate that Gen Digital Inc. will post 2.61 earnings per share for the current year.

Gen Digital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. Gen Digital’s payout ratio is currently 29.07%.

Insiders Place Their Bets

In other news, Director Ondrej Vlcek sold 100,000 shares of Gen Digital 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 directly owned 3,832,724 shares in the company, valued at approximately $94,974,900.72. The trade was a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Chrystal purchased 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average price of $27.06 per share, with a total value of $81,180.00. Following the completion of the purchase, the director owned 31,419 shares of the company’s stock, valued at $850,198.14. This trade represents a 10.56% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 9.70% of the company’s stock.

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.