Andra AP fonden Lowers Holdings in Gen Digital Inc. $GEN

Andra AP fonden trimmed its position in Gen Digital Inc. (NASDAQ:GEN) by 53.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 679,072 shares of the company’s stock after selling 780,528 shares during the period. Andra AP fonden’s holdings in Gen Digital were worth $18,464,000 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 bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Gen Digital by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 73,310,110 shares of the company’s stock valued at $1,993,302,000 after acquiring an additional 1,096,313 shares during the period. State Street Corp lifted its holdings in Gen Digital by 3.4% in the third quarter. State Street Corp now owns 30,558,806 shares of the company’s stock valued at $867,565,000 after acquiring an additional 1,015,755 shares during the period. Ameriprise Financial Inc. lifted its holdings in Gen Digital by 2.2% in the third quarter. Ameriprise Financial Inc. now owns 22,961,310 shares of the company’s stock valued at $651,867,000 after acquiring an additional 487,393 shares during the period. First Trust Advisors LP lifted its holdings in Gen Digital by 2.5% in the third quarter. First Trust Advisors LP now owns 16,301,095 shares of the company’s stock valued at $462,788,000 after acquiring an additional 401,937 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Gen Digital by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 15,592,196 shares of the company’s stock valued at $422,461,000 after acquiring an additional 129,413 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Royal Bank Of Canada raised their target price on Gen Digital from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Wall Street Zen raised Gen Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Barclays raised their target price on Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, Wells Fargo & Company assumed coverage on Gen Digital in a report on Tuesday, March 3rd. They issued an “equal weight” rating and a $22.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.29.

Insider Activity

In other news, Director John C. Chrystal purchased 3,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was acquired at an average price of $27.06 per share, with a total value of $81,180.00. Following the purchase, the director directly owned 31,419 shares of the company’s stock, valued at $850,198.14. This represents a 10.56% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.30% of the stock is owned by company insiders.

Gen Digital Trading Down 2.8%

NASDAQ:GEN opened at $23.94 on Friday. The company has a market capitalization of $14.42 billion, a PE ratio of 15.15 and a beta of 1.21. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.07. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $32.22. The stock has a fifty day simple moving average of $22.02 and a 200-day simple moving average of $23.60.

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

Gen Digital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, May 18th. Gen Digital’s payout ratio is 31.65%.

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.