Handelsbanken Fonder AB Has $3.72 Million Stock Position in Gen Digital Inc. $GEN

Handelsbanken Fonder AB increased its stake in Gen Digital Inc. (NASDAQ:GEN) by 18.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,960 shares of the company’s stock after acquiring an additional 21,399 shares during the quarter. Handelsbanken Fonder AB’s holdings in Gen Digital were worth $3,724,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in shares of Gen Digital by 2.4% in the fourth quarter. Blue Trust Inc. now owns 16,210 shares of the company’s stock worth $441,000 after acquiring an additional 387 shares during the period. Larson Financial Group LLC lifted its stake in Gen Digital by 20.9% in the third quarter. Larson Financial Group LLC now owns 2,255 shares of the company’s stock valued at $64,000 after buying an additional 390 shares during the period. Clearstead Advisors LLC lifted its stake in Gen Digital by 48.6% in the third quarter. Clearstead Advisors LLC now owns 1,223 shares of the company’s stock valued at $35,000 after buying an additional 400 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Gen Digital by 22.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,223 shares of the company’s stock valued at $60,000 after buying an additional 414 shares during the period. Finally, Tealwood Asset Management Inc. lifted its stake in Gen Digital by 0.5% in the fourth quarter. Tealwood Asset Management Inc. now owns 81,715 shares of the company’s stock valued at $2,222,000 after buying an additional 426 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on GEN shares. Royal Bank Of Canada boosted their price target on Gen Digital from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Wall Street Zen raised Gen Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays boosted their price target on Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Wells Fargo & Company started coverage on Gen Digital in a research note on Tuesday, March 3rd. They issued an “equal weight” rating and a $22.00 price target on the stock. Finally, Zacks Research raised Gen Digital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.29.

Gen Digital Trading Down 0.1%

NASDAQ GEN opened at $24.82 on Friday. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 15.71 and a beta of 1.10. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $32.22. The business has a 50 day moving average price of $20.45 and a 200-day moving average price of $23.68. The company has a quick ratio of 0.47, a current ratio of 0.40 and a debt-to-equity ratio of 3.07.

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 firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 earnings per share. 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, equities analysts expect that Gen Digital Inc. will post 2.66 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.125 per share. The ex-dividend date is Monday, May 18th. This represents a $0.50 annualized dividend and a dividend yield of 2.0%. Gen Digital’s payout ratio is currently 31.65%.

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.