Hsbc Holdings PLC Purchases 437,646 Shares of Gen Digital Inc. $GEN

Hsbc Holdings PLC raised its position in Gen Digital Inc. (NASDAQ:GEN) by 49.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,324,155 shares of the company’s stock after buying an additional 437,646 shares during the quarter. Hsbc Holdings PLC’s holdings in Gen Digital were worth $32,976,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Legal & General Group Plc acquired a new position in Gen Digital during the second quarter worth $225,169,000. Deutsche Bank AG acquired a new position in shares of Gen Digital during the 2nd quarter worth about $146,639,000. Bank of New York Mellon Corp acquired a new position in shares of Gen Digital during the 2nd quarter worth about $108,421,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Gen Digital by 45.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock valued at $246,567,000 after acquiring an additional 4,115,676 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Gen Digital by 22.3% in the fourth quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock valued at $542,211,000 after acquiring an additional 3,640,451 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ondrej Vlcek sold 200,000 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the director directly owned 3,332,904 shares in the company, valued at approximately $99,987,120. This represents a 5.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Travis Witteveen sold 30,000 shares of the stock in a transaction on Monday, August 10th. The stock was 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 in the company, valued at approximately $14,608,353.90. This trade represents a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 630,260 shares of company stock worth $17,967,726 in the last three months. 9.70% of the stock is currently owned by company insiders.

Gen Digital Price Performance

GEN opened at $30.65 on Tuesday. The stock has a fifty day moving average of $27.89 and a 200-day moving average of $24.09. The company has a market capitalization of $18.35 billion, a P/E ratio of 17.82, a P/E/G ratio of 0.97 and a beta of 1.22. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $31.65. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. Gen Digital’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. 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 analysts expect that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, August 17th. Gen Digital’s payout ratio is 29.07%.

Wall Street Analysts Forecast Growth

GEN has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price target on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Barclays increased 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 lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Finally, Wells Fargo & Company raised their target price on shares of Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.60.

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.