Mitsubishi UFJ Asset Management Co. Ltd. Invests $33.90 Million in Gen Digital Inc. $GEN

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Gen Digital Inc. (NASDAQ:GEN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,361,713 shares of the company’s stock, valued at approximately $33,895,000.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in Gen Digital during the 2nd quarter valued at $108,421,000. Arrowstreet Capital Limited Partnership raised its stake in Gen Digital by 45.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock worth $246,567,000 after buying an additional 4,115,676 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Gen Digital by 22.3% during the 4th quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock worth $542,211,000 after purchasing an additional 3,640,451 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Gen Digital during the fourth quarter worth $70,248,000. Finally, Victory Capital Management Inc. raised its position in shares of Gen Digital by 167.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,328,737 shares of the company’s stock valued at $90,508,000 after purchasing an additional 2,082,850 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Gen Digital Trading Up 2.3%

Shares of GEN opened at $28.17 on Friday. The business’s 50-day moving average price is $26.40 and its 200 day moving average price is $23.53. The stock has a market capitalization of $16.86 billion, a P/E 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.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.71 earnings per share (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 business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company earned $0.64 earnings per share. Gen Digital’s quarterly revenue was up 6.3% compared to the same quarter last year. 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. Analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a yield of 1.8%. Gen Digital’s dividend payout ratio (DPR) is currently 29.07%.

Insider Transactions at Gen Digital

In other Gen Digital news, Director John C. Chrystal acquired 3,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was purchased at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the transaction, the director owned 31,419 shares in the company, valued at $850,198.14. This trade represents a 10.56% increase in their position. The transaction 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 stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $24.78, for a total value of $2,478,000.00. Following the completion of the transaction, the director owned 3,832,724 shares in the company, valued at $94,974,900.72. The trade was a 2.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 130,440 shares of company stock valued at $3,372,946. 9.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on GEN. Argus raised shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Wells Fargo & Company lifted their price target on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Barclays raised their target price on shares of Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.67.

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.