Todd Asset Management LLC Takes $25.43 Million Position in Gen Digital Inc. (NASDAQ:GEN)

Todd Asset Management LLC bought a new stake in Gen Digital Inc. (NASDAQ:GEN) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 958,261 shares of the company’s stock, valued at approximately $25,432,000. Todd Asset Management LLC owned approximately 0.16% of Gen Digital as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Gen Digital by 132.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company’s stock valued at $16,039,000 after buying an additional 341,533 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Gen Digital by 26.6% in the first quarter. Mather Group LLC. now owns 3,730 shares of the company’s stock valued at $99,000 after buying an additional 783 shares during the last quarter. Cornerstone Wealth Group LLC bought a new position in shares of Gen Digital in the first quarter valued at about $377,000. Wellington Management Group LLP raised its holdings in shares of Gen Digital by 98.8% in the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company’s stock valued at $3,140,000 after buying an additional 56,993 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Gen Digital by 52.4% in the first quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company’s stock valued at $296,000 after buying an additional 3,830 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Nora Denzel sold 31,646 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $28.76, for a total value of $910,138.96. Following the completion of the transaction, the director directly owned 34,860 shares in the company, valued at approximately $1,002,573.60. The trade was a 47.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.30% of the company’s stock.

Gen Digital Stock Performance

Shares of GEN stock opened at $30.45 on Monday. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.50 and a quick ratio of 0.51. The stock has a market cap of $18.75 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00. The stock has a 50-day moving average of $29.64 and a 200-day moving average of $27.83. Gen Digital Inc. has a one year low of $22.74 and a one year high of $31.72.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the business posted $0.53 EPS. Gen Digital’s revenue was up 30.3% on a year-over-year basis. As a group, sell-side analysts expect that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be given a $0.125 dividend. The ex-dividend date is Monday, August 18th. This represents a $0.50 annualized dividend and a dividend yield of 1.6%. Gen Digital’s payout ratio is currently 51.55%.

Analysts Set New Price Targets

Several analysts have weighed in on GEN shares. B. Riley started coverage on Gen Digital in a report on Monday, July 14th. They set a “buy” rating and a $46.00 price objective for the company. Evercore ISI started coverage on Gen Digital in a report on Tuesday, July 1st. They set an “outperform” rating and a $35.00 price objective for the company. Morgan Stanley dropped their price objective on Gen Digital from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Royal Bank Of Canada boosted their price objective on Gen Digital from $32.00 to $33.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, Wells Fargo & Company boosted their price objective on Gen Digital from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.33.

About Gen Digital

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.