AIA Group Ltd boosted its position in NortonLifeLock Inc. (NASDAQ:NLOK – Get Rating) by 57.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,983 shares of the company’s stock after buying an additional 2,904 shares during the quarter. AIA Group Ltd’s holdings in NortonLifeLock were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in NortonLifeLock by 13.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 19,303 shares of the company’s stock worth $502,000 after acquiring an additional 2,260 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of NortonLifeLock in the fourth quarter worth about $5,709,000. Commonwealth Equity Services LLC raised its position in shares of NortonLifeLock by 1.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 72,109 shares of the company’s stock valued at $1,873,000 after purchasing an additional 885 shares during the period. Yousif Capital Management LLC purchased a new stake in shares of NortonLifeLock during the 4th quarter valued at approximately $2,380,000. Finally, CWM LLC bought a new position in NortonLifeLock in the 4th quarter worth approximately $364,000. 94.59% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on NLOK shares. TheStreet cut shares of NortonLifeLock from a “b-” rating to a “c+” rating in a report on Tuesday, July 5th. StockNews.com raised NortonLifeLock from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. Finally, Robert W. Baird reduced their target price on NortonLifeLock from $31.00 to $28.00 in a report on Monday, May 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, NortonLifeLock currently has a consensus rating of “Hold” and an average price target of $27.25.
NortonLifeLock Price Performance
NortonLifeLock (NASDAQ:NLOK – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $716.00 million during the quarter, compared to analyst estimates of $709.62 million. NortonLifeLock had a negative return on equity of 444.77% and a net margin of 29.90%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. On average, analysts expect that NortonLifeLock Inc. will post 1.69 earnings per share for the current year.
NortonLifeLock Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders of record on Monday, August 22nd will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.07%. NortonLifeLock’s payout ratio is 35.46%.
Insider Buying and Selling
In related news, Director Peter A. Feld bought 500,000 shares of the company’s stock in a transaction on Wednesday, June 15th. The stock was acquired at an average cost of $22.03 per share, for a total transaction of $11,015,000.00. Following the completion of the transaction, the director now directly owns 2,024,896 shares in the company, valued at approximately $44,608,458.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Peter A. Feld acquired 500,000 shares of the stock in a transaction dated Wednesday, June 15th. The shares were purchased at an average price of $22.03 per share, for a total transaction of $11,015,000.00. Following the transaction, the director now owns 2,024,896 shares in the company, valued at approximately $44,608,458.88. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter A. Feld bought 1,400,000 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The stock was bought at an average price of $22.38 per share, with a total value of $31,332,000.00. Following the completion of the transaction, the director now directly owns 9,181,938 shares of the company’s stock, valued at approximately $205,491,772.44. The disclosure for this purchase can be found here. 3.20% of the stock is owned by company insiders.
NortonLifeLock Inc provides cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It offers Norton 360, an integrated platform provides extensive cyber safety coverage and a subscription service providing protection for PCs, Macs, and mobile devices against malware, viruses, adware, ransomware, and other online threats on various platforms; and Norton and LifeLock identity theft protection solution that offers monitoring, alerts, and restoration services to its customers.
- Get a free copy of the StockNews.com research report on NortonLifeLock (NLOK)
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