Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Gen Digital Inc. $GEN

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Gen Digital Inc. (NASDAQ:GEN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,361,713 shares of the company’s stock, valued at approximately $33,895,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.23% of Gen Digital as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEN. Goldman Sachs Group Inc. increased its position in shares of Gen Digital by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company’s stock worth $71,757,000 after acquiring an additional 28,522 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Gen Digital in the 1st quarter valued at about $205,000. Woodline Partners LP boosted its holdings in shares of Gen Digital by 37.8% during the first quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock valued at $732,000 after acquiring an additional 7,562 shares during the period. Focus Partners Wealth raised its holdings in shares of Gen Digital by 9.7% during the first quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock valued at $593,000 after buying an additional 1,980 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Gen Digital by 221.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after purchasing an additional 1,183 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Activity at Gen Digital

In related news, Director John C. Chrystal purchased 3,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the purchase, the director owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Travis Michael Witteveen sold 30,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.42, for a total value of $882,600.00. Following the sale, the insider directly owned 496,545 shares of the company’s stock, valued at $14,608,353.90. The trade was a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 130,440 shares of company stock valued at $3,372,946. 9.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GEN. Wells Fargo & Company raised their price objective on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Barclays raised their target price 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. Finally, Royal Bank Of Canada boosted their price target on shares of Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.67.

Gen Digital Stock Up 2.3%

NASDAQ GEN opened at $28.17 on Friday. The company has a market cap of $16.86 billion, a price-to-earnings ratio of 16.38 and a beta of 1.21. Gen Digital Inc. has a 1-year low of $17.78 and a 1-year high of $31.88. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00. The company has a 50 day moving average of $26.40 and a 200-day moving average of $23.53.

Gen Digital (NASDAQ:GEN) last issued its earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. 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. On average, equities research analysts expect that Gen Digital Inc. will post 2.64 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, September 9th. Shareholders of record on Monday, August 17th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s dividend payout ratio (DPR) is 29.07%.

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.