Nykredit A S Invests $2.70 Million in Gen Digital Inc. $GEN

Nykredit A S bought a new position in Gen Digital Inc. (NASDAQ:GEN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 108,629 shares of the company’s stock, valued at approximately $2,704,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in 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 acquiring an additional 28,522 shares during the last quarter. Great Lakes Advisors LLC bought a new position in shares of Gen Digital during the first quarter valued at about $205,000. Woodline Partners LP boosted its holdings in shares of Gen Digital by 37.8% during the first quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock worth $732,000 after purchasing an additional 7,562 shares during the period. Focus Partners Wealth boosted its holdings 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 worth $593,000 after purchasing an additional 1,980 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in shares of Gen Digital by 221.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after purchasing an additional 1,183 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank Of Canada boosted their price target on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Barclays lifted their price objective on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Finally, Argus upgraded Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.60.

Gen Digital Stock Performance

Shares of GEN opened at $30.65 on Monday. The firm’s 50-day moving average price is $27.78 and its 200-day moving average price is $24.03. The firm has a market capitalization of $18.35 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 0.97 and a beta of 1.22. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00. Gen Digital Inc. has a 1-year low of $17.78 and a 1-year high of $31.65.

Gen Digital (NASDAQ:GEN) last released 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. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. Gen Digital’s revenue 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. Sell-side analysts anticipate that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Announces Dividend

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

Insider Activity at Gen Digital

In related news, insider Travis Witteveen sold 30,000 shares of the company’s 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 sale, the insider directly owned 496,545 shares of the company’s stock, valued at $14,608,353.90. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ondrej Vlcek sold 200,000 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total value of $6,000,000.00. Following the completion of the sale, the director directly owned 3,332,904 shares in the company, valued at approximately $99,987,120. The trade was a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 630,260 shares of company stock valued at $17,967,726 in the last three months. Corporate insiders own 9.70% of the company’s stock.

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.