Insider Selling: Gen Digital Inc. (NASDAQ:GEN) Director Sells 31,646 Shares of Stock

Gen Digital Inc. (NASDAQ:GEN) Director Nora Denzel sold 31,646 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.76, for a total transaction of $910,138.96. Following the sale, the director now directly owns 34,860 shares of the company’s stock, valued at $1,002,573.60. This trade represents a 47.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Gen Digital Trading Down 0.3%

NASDAQ:GEN opened at $28.41 on Wednesday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 3.29. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $31.72. The company has a market cap of $17.62 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. The company has a 50 day simple moving average of $26.28 and a two-hundred day simple moving average of $27.63.

Gen Digital (NASDAQ:GEN) last posted its earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Gen Digital had a net margin of 16.32% and a return on equity of 58.83%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $999.48 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. Research analysts forecast that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Monday, May 19th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Monday, May 19th. Gen Digital’s dividend payout ratio (DPR) is presently 48.08%.

Institutional Investors Weigh In On Gen Digital

A number of large investors have recently added to or reduced their stakes in GEN. Nuveen LLC bought a new stake in shares of Gen Digital during the 1st quarter valued at $299,562,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Gen Digital by 43.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,270,615 shares of the company’s stock valued at $325,662,000 after acquiring an additional 3,724,211 shares during the period. Boston Partners grew its position in shares of Gen Digital by 37.3% during the 1st quarter. Boston Partners now owns 13,358,167 shares of the company’s stock valued at $354,456,000 after acquiring an additional 3,631,052 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Gen Digital during the 1st quarter valued at $71,287,000. Finally, Vanguard Group Inc. grew its position in shares of Gen Digital by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company’s stock valued at $1,849,593,000 after acquiring an additional 2,513,464 shares during the period. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GEN shares. Royal Bank of Canada raised their price target on shares of Gen Digital from $28.00 to $30.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 7th. Morgan Stanley reduced their price target on shares of Gen Digital from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating and three have given a strong buy rating to the stock. According to MarketBeat, Gen Digital has a consensus rating of “Buy” and an average target price of $27.50.

Gen Digital Company Profile

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.