OP Asset Management Ltd Buys New Position in Gen Digital Inc. $GEN

OP Asset Management Ltd bought a new stake in Gen Digital Inc. (NASDAQ:GEN) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 51,773 shares of the company’s stock, valued at approximately $975,000.

Several other institutional investors also recently added to or reduced their stakes in GEN. International Assets Investment Management LLC bought a new stake in shares of Gen Digital in the fourth quarter valued at approximately $27,000. Clearstead Advisors LLC grew its stake in shares of Gen Digital by 48.6% in the third quarter. Clearstead Advisors LLC now owns 1,223 shares of the company’s stock worth $35,000 after acquiring an additional 400 shares during the last quarter. TD Private Client Wealth LLC increased its position in Gen Digital by 65.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after acquiring an additional 611 shares during the period. Geneos Wealth Management Inc. increased its position in Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after acquiring an additional 1,183 shares during the period. Finally, MUFG Securities EMEA plc acquired a new position in Gen Digital during the 2nd quarter valued at $47,000. 81.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GEN has been the subject of a number of research reports. Wells Fargo & Company began coverage on shares of Gen Digital in a report on Tuesday, March 3rd. They issued an “equal weight” rating and a $22.00 price target for the company. Jefferies Financial Group downgraded shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Argus raised shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Wall Street Zen cut shares of Gen Digital from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Gen Digital in a research report on Thursday, June 18th. One equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.29.

Insider Activity

In other news, Director John C. Chrystal acquired 3,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were purchased at an average cost of $27.06 per share, with a total value of $81,180.00. Following the completion of the purchase, the director 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ondrej Vlcek sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the sale, the director directly owned 3,832,724 shares of the company’s stock, valued at approximately $94,974,900.72. The trade was a 2.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.30% of the company’s stock.

Gen Digital Stock Performance

Shares of NASDAQ:GEN opened at $25.04 on Tuesday. The business’s fifty day moving average price is $23.23 and its two-hundred day moving average price is $23.37. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $32.22. The stock has a market capitalization of $15.08 billion, a price-to-earnings ratio of 15.85 and a beta of 1.20. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.40 and a quick ratio of 0.40.

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

Gen Digital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 18th were given a dividend of $0.125 per share. The ex-dividend date was Monday, May 18th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.0%. 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.