Railway Pension Investments Ltd Buys 655,500 Shares of Gen Digital Inc. $GEN

Railway Pension Investments Ltd boosted its stake in Gen Digital Inc. (NASDAQ:GEN) by 98.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,320,600 shares of the company’s stock after purchasing an additional 655,500 shares during the quarter. Railway Pension Investments Ltd owned about 0.22% of Gen Digital worth $32,870,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEN. Goldman Sachs Group Inc. grew its stake in shares of Gen Digital by 1.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company’s stock worth $71,757,000 after buying an additional 28,522 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in Gen Digital in the first quarter worth $205,000. Woodline Partners LP lifted its holdings in Gen Digital by 37.8% during the 1st quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock valued at $732,000 after buying an additional 7,562 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Gen Digital by 9.7% during the first quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock valued at $593,000 after acquiring an additional 1,980 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Gen Digital by 221.5% in 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. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ondrej Vlcek sold 200,000 shares of Gen Digital stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the transaction, the director owned 3,332,904 shares in the company, valued at approximately $99,987,120. This trade represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Travis Michael Witteveen sold 30,000 shares of Gen Digital stock in a transaction on Monday, August 10th. The stock was sold at an average price of $29.42, for a total value of $882,600.00. Following the transaction, the insider owned 496,545 shares in the company, valued at approximately $14,608,353.90. This represents a 5.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 630,260 shares of company stock worth $17,967,726. 9.70% of the stock is owned by corporate insiders.

Gen Digital Stock Down 0.1%

GEN stock opened at $31.00 on Tuesday. The firm has a 50-day simple moving average of $27.22 and a 200-day simple moving average of $23.84. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $31.29. The stock has a market capitalization of $18.56 billion, a P/E ratio of 18.02 and a beta of 1.21. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Wells Fargo & Company upped their price objective on shares of Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Royal Bank Of Canada raised their target price on Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Finally, Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.67.

About Gen Digital

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.