UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 44,597 Shares of Gen Digital Inc. $GEN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Gen Digital Inc. (NASDAQ:GEN) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,155,355 shares of the company’s stock after selling 44,597 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Gen Digital were worth $202,987,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in Gen Digital in the second quarter valued at about $25,920,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Gen Digital by 9.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company’s stock worth $30,128,000 after purchasing an additional 102,345 shares during the last quarter. Legal & General Group Plc lifted its position in Gen Digital by 3.8% during the 4th quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock valued at $247,027,000 after purchasing an additional 334,156 shares during the period. National Pension Service lifted its position in Gen Digital by 13.6% during the 4th quarter. National Pension Service now owns 934,892 shares of the company’s stock valued at $25,420,000 after purchasing an additional 112,136 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Gen Digital by 17.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 384,754 shares of the company’s stock valued at $7,245,000 after purchasing an additional 58,319 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Travis Michael Witteveen sold 30,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $29.42, for a total transaction of $882,600.00. Following the sale, the insider owned 496,545 shares of the company’s stock, valued at approximately $14,608,353.90. This trade represents a 5.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ondrej Vlcek sold 200,000 shares of Gen Digital stock in a transaction dated 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 transaction, the director owned 3,332,904 shares in the company, valued at approximately $99,987,120. This represents a 5.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 630,260 shares of company stock valued at $17,967,726 in the last quarter. Company insiders own 9.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Gen Digital Stock Performance

Shares of NASDAQ:GEN opened at $31.00 on Tuesday. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of 18.02 and a beta of 1.21. The firm’s 50 day simple moving average is $27.22 and its 200 day simple moving average is $23.84. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.47. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $31.29.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm earned $0.64 EPS. Gen Digital’s quarterly revenue was up 6.3% compared to the same quarter last year. 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. As a group, sell-side analysts forecast that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Dividend Announcement

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

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.