Legal & General Group Plc Invests $225.17 Million in Gen Digital Inc. $GEN

Legal & General Group Plc acquired a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,046,545 shares of the company’s stock, valued at approximately $225,169,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GEN. Trust Co. of Vermont purchased a new stake in Gen Digital during the 2nd quarter worth approximately $32,000. International Assets Investment Management LLC purchased a new position in shares of Gen Digital in the fourth quarter worth $27,000. Grove Bank & Trust raised its holdings in shares of Gen Digital by 452.2% in the second quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock worth $28,000 after buying an additional 927 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Gen Digital by 65.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after buying an additional 611 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Gen Digital during the second quarter worth $47,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gen Digital

In other Gen Digital news, Director Ondrej Vlcek sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total value of $2,478,000.00. Following the sale, the director owned 3,832,724 shares in the company, valued at approximately $94,974,900.72. This represents a 2.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John C. Chrystal acquired 3,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were purchased at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the purchase, the director directly owned 31,419 shares in the company, valued at approximately $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 277,902 shares of company stock valued at $7,549,344. 9.70% of the stock is owned by company insiders.

Gen Digital Price Performance

NASDAQ:GEN opened at $29.64 on Thursday. The firm’s fifty day moving average is $26.79 and its two-hundred day moving average is $23.71. The firm has a market cap of $17.74 billion, a price-to-earnings ratio of 17.23 and a beta of 1.21. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. Gen Digital Inc. has a one year low of $17.78 and a one year high of $30.93.

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, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. 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. Research analysts expect that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. Gen Digital’s payout ratio is presently 29.07%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Wells Fargo & Company lifted their price target on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Barclays boosted 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. Argus raised Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Finally, Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.67.

Gen Digital Company 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.