ING Groep NV Makes New Investment in Gen Digital Inc. $GEN

ING Groep NV purchased a new stake in Gen Digital Inc. (NASDAQ:GEN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,491 shares of the company’s stock, valued at approximately $612,000.

Several other large investors have also recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in Gen Digital in the fourth quarter valued at $27,000. Clearstead Advisors LLC raised its position in Gen Digital by 48.6% during the 3rd quarter. Clearstead Advisors LLC now owns 1,223 shares of the company’s stock worth $35,000 after purchasing an additional 400 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in Gen Digital by 65.8% during the 4th 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 period. Geneos Wealth Management Inc. lifted its holdings in Gen Digital by 221.5% during the 1st 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 period. Finally, MUFG Securities EMEA plc bought a new stake in shares of Gen Digital in the 2nd quarter valued at about $47,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GEN. Zacks Research upgraded Gen Digital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Wells Fargo & Company initiated coverage on Gen Digital in a report on Tuesday, March 3rd. They issued an “equal weight” rating and a $22.00 target price on the stock. Argus raised shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Barclays raised their price target on shares of Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, Jefferies Financial Group lowered shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Gen Digital presently has a consensus rating of “Hold” and a consensus price target of $31.29.

Gen Digital Stock Down 1.4%

Shares of NASDAQ:GEN opened at $24.62 on Thursday. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $32.22. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.40 and a quick ratio of 0.40. The business’s 50-day moving average is $21.91 and its 200-day moving average is $23.61. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 15.58 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last issued its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share 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 business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the company posted $0.59 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts predict that Gen Digital Inc. will post 2.59 earnings per share for the current year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th were paid a $0.125 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.50 annualized dividend and a dividend yield of 2.0%. Gen Digital’s payout ratio is currently 31.65%.

Insider Activity

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

Gen Digital Company 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.