Gen Digital Inc. $GEN Shares Purchased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. grew its holdings in shares of Gen Digital Inc. (NASDAQ:GEN) by 3,146.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,164,810 shares of the company’s stock after buying an additional 1,128,930 shares during the period. Eurizon Capital SGR S.p.A. owned approximately 0.20% of Gen Digital worth $25,628,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new position in Gen Digital in the second quarter worth approximately $25,920,000. Hsbc Holdings PLC increased its holdings in shares of Gen Digital by 49.4% during the second quarter. Hsbc Holdings PLC now owns 1,324,155 shares of the company’s stock valued at $32,976,000 after acquiring an additional 437,646 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Gen Digital during the second quarter valued at approximately $12,705,000. The Manufacturers Life Insurance Company increased its holdings in shares of Gen Digital by 17.9% during the first quarter. The Manufacturers Life Insurance Company now owns 384,754 shares of the company’s stock valued at $7,245,000 after acquiring an additional 58,319 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Gen Digital during the second quarter worth approximately $62,004,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Gen Digital Stock Up 2.4%

Gen Digital stock opened at $30.40 on Friday. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $31.65. The stock has a market cap of $18.04 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 0.93 and a beta of 1.24. The firm’s 50-day simple moving average is $26.50 and its 200 day simple moving average is $24.61. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.37 and a current ratio of 0.37.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Gen Digital had a net margin of 23.07% and a return on equity of 56.80%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 EPS. Research analysts predict that Gen Digital Inc. will post 2.65 EPS for the current fiscal year.

Gen Digital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.1250 per share. The ex-dividend date is Monday, November 16th. This represents a $0.50 annualized dividend and a dividend yield of 1.6%. Gen Digital’s dividend payout ratio (DPR) is presently 25.13%.

Analyst Ratings Changes

GEN has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Barclays boosted their price target on shares of Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Gen Digital from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. Morgan Stanley raised their price objective on shares of Gen Digital from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, October 29th. Finally, Weiss Ratings upgraded shares of Gen Digital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, November 4th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.20.

Insider Transactions at Gen Digital

In related news, Director Ondrej Vlcek sold 200,000 shares of Gen Digital stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $30.00, for a total value of $6,000,000.00. Following the sale, the director owned 3,332,904 shares of the company’s stock, valued at approximately $99,987,120. The trade was a 5.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Bryan Seuk Ko sold 28,248 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $30.67, for a total value of $866,366.16. Following the completion of the transaction, the chief operating officer owned 744,262 shares in the company, valued at approximately $22,826,515.54. The trade was a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 558,508 shares of company stock worth $16,365,993 in the last quarter. Insiders own 9.70% of the company’s stock.

About Gen Digital

Gen Digital Inc. is a global cybersecurity company that provides digital safety and identity protection services to consumers and small businesses. Its products include antivirus and malware protection, virtual private networks, password managers, scam protection, and identity monitoring and recovery services. The company offers services through brands including Norton, Avast, LifeLock, Avira, AVG, and CCleaner. Its products are available in markets around the world through direct subscriptions and other distribution channels.