20,567 Shares in Gen Digital Inc. $GEN Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp purchased a new position in Gen Digital Inc. (NASDAQ:GEN) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 20,567 shares of the company’s stock, valued at approximately $512,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Trust Co. of Vermont acquired a new position in shares of Gen Digital in the 2nd quarter worth approximately $32,000. International Assets Investment Management LLC acquired a new stake in Gen Digital during the fourth quarter valued at approximately $27,000. Grove Bank & Trust boosted 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 buying an additional 927 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings 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 in the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in Gen Digital in the second quarter worth approximately $47,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GEN. Wells Fargo & Company upped their price target on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Wall Street Zen lowered Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Argus upgraded Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. 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 research report on Friday, August 7th. Finally, Weiss Ratings raised 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 given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.67.

Insiders Place Their Bets

In other news, insider Travis Michael Witteveen sold 30,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the transaction, the insider directly owned 496,545 shares in the company, valued at $14,608,353.90. The trade was a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ondrej Vlcek sold 152,358 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $29.00, for a total transaction of $4,418,382.00. Following the completion of the transaction, the director directly owned 3,532,904 shares in the company, valued at $102,454,216. This trade represents a 4.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 430,260 shares of company stock worth $11,967,726 in the last quarter. 9.70% of the stock is currently owned by corporate insiders.

Gen Digital Trading Up 2.9%

NASDAQ:GEN opened at $30.50 on Friday. The stock has a market cap of $18.26 billion, a PE ratio of 17.73 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 company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.47. The stock’s 50-day moving average is $26.92 and its two-hundred day moving average is $23.76.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. 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 forecast that Gen Digital Inc. will post 2.64 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be given a $0.125 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a yield of 1.6%. Gen Digital’s dividend payout ratio is presently 29.07%.

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.