Commerce Bank Purchases New Holdings in Gen Digital Inc. $GEN

Commerce Bank purchased a new position in shares of Gen Digital Inc. (NASDAQ:GEN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 34,405 shares of the company’s stock, valued at approximately $856,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of Gen Digital during the 4th quarter valued at $27,000. Grove Bank & Trust raised its stake in shares of Gen Digital by 452.2% during the 2nd 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. Trust Co. of Vermont purchased a new position in shares of Gen Digital in the 2nd quarter worth about $32,000. Weiss Asset Management LP purchased a new position in shares of Gen Digital in the 1st quarter worth about $41,000. Finally, TD Private Client Wealth LLC grew 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 valued at $42,000 after buying an additional 611 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Gen Digital Stock Up 1.1%

GEN stock opened at $29.64 on Thursday. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $17.74 billion, a price-to-earnings ratio of 17.23 and a beta of 1.21. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $30.93. The stock has a fifty day moving average of $26.79 and a 200-day moving average of $23.71.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter 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. As a group, equities research analysts predict that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be paid a $0.125 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. Gen Digital’s dividend payout ratio (DPR) is presently 29.07%.

Insider Transactions at Gen Digital

In other Gen Digital news, Director John C. Chrystal purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the purchase, the director owned 31,419 shares of the company’s stock, valued at $850,198.14. This represents a 10.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Travis Michael Witteveen sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was 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 of the company’s stock, valued at approximately $14,608,353.90. This trade represents a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 277,902 shares of company stock worth $7,549,344 over the last quarter. Corporate insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

GEN has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Royal Bank Of Canada increased their target price on shares of Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Barclays raised their price target on shares of Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Finally, Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. One 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.67.

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.