Gen Digital Inc. $GEN Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in shares of Gen Digital Inc. (NASDAQ:GEN) by 101.3% in the second quarter, Holdings Channel reports. The firm owned 55,348 shares of the company’s stock after purchasing an additional 27,847 shares during the period. Van ECK Associates Corp’s holdings in Gen Digital were worth $1,378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Gen Digital during the fourth quarter valued at approximately $27,000. Grove Bank & Trust increased its position in shares of Gen Digital by 452.2% in the second quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock worth $28,000 after acquiring an additional 927 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of Gen Digital in the 1st quarter valued at $41,000. TD Private Client Wealth LLC raised its stake in shares of Gen Digital by 65.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock valued at $42,000 after acquiring an additional 611 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Gen Digital by 221.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after acquiring an additional 1,183 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GEN. 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. Wells Fargo & Company boosted 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. Barclays upped their target price on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Royal Bank Of Canada raised their target price on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Finally, Wall Street Zen lowered Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Gen Digital currently has a consensus rating of “Hold” and a consensus target price of $31.60.

Gen Digital Price Performance

Shares of NASDAQ GEN opened at $30.65 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $31.65. The business has a 50 day moving average price of $27.78 and a two-hundred day moving average price of $24.03. The firm has a market cap of $18.35 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 0.99 and a beta of 1.22.

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

Gen Digital Dividend Announcement

The business 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 dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, August 17th. Gen Digital’s dividend payout ratio is 29.07%.

Insider Buying and Selling at Gen Digital

In other Gen Digital news, insider Travis Witteveen sold 30,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the completion of the transaction, the insider directly owned 496,545 shares of the company’s stock, valued at $14,608,353.90. This trade represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ondrej Vlcek sold 200,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $99,987,120. The trade was a 5.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 630,260 shares of company stock valued at $17,967,726. 9.70% of the stock is owned by company insiders.

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.