Elevation Point Wealth Partners LLC Makes New $3.41 Million Investment in Gen Digital Inc. $GEN

Elevation Point Wealth Partners LLC acquired a new position in Gen Digital Inc. (NASDAQ:GEN) in the first quarter, HoldingsChannel reports. The institutional investor acquired 181,325 shares of the company’s stock, valued at approximately $3,414,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GEN. Blue Trust Inc. lifted its stake in shares of Gen Digital by 2.4% during the 4th quarter. Blue Trust Inc. now owns 16,210 shares of the company’s stock valued at $441,000 after buying an additional 387 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Gen Digital by 20.9% in the 3rd quarter. Larson Financial Group LLC now owns 2,255 shares of the company’s stock worth $64,000 after buying an additional 390 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Gen Digital by 22.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,223 shares of the company’s stock worth $60,000 after buying an additional 414 shares during the period. Tealwood Asset Management Inc. increased its stake in Gen Digital by 0.5% in the 4th quarter. Tealwood Asset Management Inc. now owns 81,715 shares of the company’s stock worth $2,222,000 after buying an additional 426 shares in the last quarter. Finally, Vident Advisory LLC increased its stake in Gen Digital by 1.6% in the 3rd quarter. Vident Advisory LLC now owns 26,906 shares of the company’s stock worth $764,000 after buying an additional 428 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the completion of the transaction, the director directly owned 3,832,724 shares of the company’s stock, valued at approximately $94,974,900.72. This represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Chrystal purchased 3,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were purchased at an average price of $27.06 per share, with a total value of $81,180.00. Following the acquisition, the director directly owned 31,419 shares in the company, valued at $850,198.14. This represents a 10.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 9.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Gen Digital in a research report on Thursday, June 18th. Barclays increased their target price on Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Argus raised Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Finally, Jefferies Financial Group cut Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gen Digital has an average rating of “Hold” and an average target price of $31.29.

Gen Digital Stock Performance

Shares of NASDAQ GEN opened at $26.67 on Friday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $16.07 billion, a P/E ratio of 16.88 and a beta of 1.21. The firm’s fifty day moving average is $23.71 and its two-hundred day moving average is $23.36. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $32.22.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The business’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. 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. As a group, analysts anticipate that Gen Digital Inc. will post 2.59 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 18th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, May 18th. Gen Digital’s payout ratio is currently 31.65%.

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.