Gen Digital Inc. $GEN Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its stake in Gen Digital Inc. (NASDAQ:GEN) by 430.8% in the first quarter, Holdings Channel.com reports. The firm owned 58,721 shares of the company’s stock after acquiring an additional 47,659 shares during the quarter. Edgestream Partners L.P.’s holdings in Gen Digital were worth $1,106,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Gen Digital by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 73,310,110 shares of the company’s stock valued at $1,993,302,000 after purchasing an additional 1,096,313 shares during the last quarter. State Street Corp increased its holdings in shares of Gen Digital by 3.4% during the 3rd quarter. State Street Corp now owns 30,558,806 shares of the company’s stock worth $867,565,000 after buying an additional 1,015,755 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Gen Digital by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company’s stock worth $660,730,000 after buying an additional 1,406,869 shares during the last quarter. First Trust Advisors LP raised its position in shares of Gen Digital by 22.3% in the 4th quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock worth $542,211,000 after buying an additional 3,640,451 shares during the period. Finally, Boston Partners boosted its holdings in Gen Digital by 14.3% in the fourth quarter. Boston Partners now owns 15,644,289 shares of the company’s stock valued at $425,336,000 after acquiring an additional 1,954,712 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

GEN has been the subject of several research analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $27.00 price target on shares of Gen Digital in a research note on Thursday, July 16th. Barclays boosted their target price on Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Jefferies Financial Group cut shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.33.

Gen Digital Stock Performance

Shares of NASDAQ:GEN opened at $28.17 on Tuesday. The business’s 50-day simple moving average is $25.69 and its 200 day simple moving average is $23.25. The company has a market cap of $16.86 billion, a P/E ratio of 17.83 and a beta of 1.21. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.40 and a current ratio of 0.40. Gen Digital Inc. has a one year low of $17.78 and a one year high of $32.22.

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. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.Gen Digital’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the business 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. On average, sell-side analysts forecast that Gen Digital Inc. will post 2.61 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 18th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, May 18th. Gen Digital’s dividend payout ratio (DPR) is presently 31.65%.

Insider Buying and Selling at Gen Digital

In related news, Director Ondrej Vlcek sold 100,000 shares of Gen Digital stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the sale, the director owned 3,832,724 shares of the company’s stock, valued at $94,974,900.72. The trade was a 2.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John C. Chrystal bought 3,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were acquired at an average price of $27.06 per share, with a total value of $81,180.00. Following the completion of the purchase, the director directly owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. This represents a 10.56% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 9.70% of the company’s stock.

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.