Legal & General Group Plc Boosts Position in Gen Digital Inc. $GEN

Legal & General Group Plc boosted its holdings in Gen Digital Inc. (NASDAQ:GEN) by 3.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,085,216 shares of the company’s stock after buying an additional 334,156 shares during the period. Legal & General Group Plc’s holdings in Gen Digital were worth $247,027,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Sound Income Strategies LLC raised its stake in shares of Gen Digital by 38,275.3% during the fourth quarter. Sound Income Strategies LLC now owns 194,563 shares of the company’s stock valued at $5,078,000 after purchasing an additional 194,056 shares during the period. Vanguard Group Inc. raised its stake in shares of Gen Digital by 1.4% during the third quarter. Vanguard Group Inc. now owns 72,213,797 shares of the company’s stock valued at $2,050,150,000 after purchasing an additional 964,046 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of Gen Digital during the third quarter valued at approximately $8,238,000. Y Intercept Hong Kong Ltd raised its stake in shares of Gen Digital by 525.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,826 shares of the company’s stock valued at $2,380,000 after purchasing an additional 70,424 shares during the period. Finally, LBP AM SA raised its stake in shares of Gen Digital by 63.7% during the fourth quarter. LBP AM SA now owns 738,272 shares of the company’s stock valued at $20,074,000 after purchasing an additional 287,369 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GEN. Royal Bank Of Canada lifted their price objective on shares of Gen Digital from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. 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. Wells Fargo & Company began coverage on shares of Gen Digital in a research note on Tuesday, March 3rd. They set an “equal weight” rating and a $22.00 price objective on the stock. Zacks Research upgraded shares of Gen Digital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of Gen Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.29.

Gen Digital Stock Down 0.2%

GEN stock opened at $24.76 on Wednesday. Gen Digital Inc. has a twelve month low of $17.78 and a twelve month high of $32.22. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.07. The company has a market capitalization of $14.92 billion, a P/E ratio of 15.67 and a beta of 1.10. The firm has a 50 day simple moving average of $20.61 and a 200-day simple moving average of $23.65.

Gen Digital (NASDAQ:GEN) last released its quarterly 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 net margin of 19.46% and a return on equity of 55.47%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the company earned $0.59 earnings per share. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. 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 predict that Gen Digital Inc. will post 2.66 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.0%. Gen Digital’s dividend payout ratio (DPR) is presently 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.