Lyrical Asset Management LP Reduces Position in Gen Digital Inc. $GEN

Lyrical Asset Management LP cut its holdings in shares of Gen Digital Inc. (NASDAQ:GEN) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,147,912 shares of the company’s stock after selling 396,848 shares during the period. Gen Digital makes up 3.1% of Lyrical Asset Management LP’s portfolio, making the stock its 13th biggest position. Lyrical Asset Management LP’s holdings in Gen Digital were worth $221,542,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GEN. Arrowstreet Capital Limited Partnership boosted its position in shares of Gen Digital by 46.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 6,600,836 shares of the company’s stock valued at $187,398,000 after buying an additional 2,103,335 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Gen Digital by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company’s stock valued at $660,730,000 after buying an additional 1,406,869 shares during the last quarter. Norges Bank purchased a new stake in shares of Gen Digital during the fourth quarter valued at $31,991,000. Qube Research & Technologies Ltd boosted its position in shares of Gen Digital by 72.8% during the third quarter. Qube Research & Technologies Ltd now owns 2,786,250 shares of the company’s stock valued at $79,102,000 after buying an additional 1,174,048 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Gen Digital by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 73,310,110 shares of the company’s stock valued at $1,993,302,000 after buying an additional 1,096,313 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GEN has been the topic of several recent analyst reports. Wall Street Zen raised Gen Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research raised Gen Digital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Barclays increased their price objective on Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Wells Fargo & Company assumed coverage on Gen Digital in a research report on Tuesday, March 3rd. They set an “equal weight” rating and a $22.00 price objective on the stock. Finally, Jefferies Financial Group cut Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Gen Digital currently has a consensus rating of “Hold” and an average price target of $31.29.

Insider Activity at Gen Digital

In related news, Director John C. Chrystal acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were purchased 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 $850,198.14. This represents a 10.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.30% of the stock is owned by company insiders.

Gen Digital Price Performance

NASDAQ GEN opened at $26.28 on Monday. The stock’s 50-day moving average price is $21.52 and its 200-day moving average price is $23.64. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.07. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $32.22. The company has a market capitalization of $15.83 billion, a P/E ratio of 16.63 and a beta of 1.20.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. 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, equities research analysts predict that Gen Digital Inc. will post 2.59 earnings per share for the current year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.50 annualized dividend and a dividend yield of 1.9%. Gen Digital’s dividend payout ratio (DPR) is 31.65%.

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.