State of New Jersey Common Pension Fund D Decreases Stock Holdings in Gen Digital Inc. $GEN

State of New Jersey Common Pension Fund D trimmed its position in shares of Gen Digital Inc. (NASDAQ:GEN) by 16.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 146,779 shares of the company’s stock after selling 27,995 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Gen Digital were worth $3,991,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sound Income Strategies LLC raised its stake in shares of Gen Digital by 38,275.3% in the 4th quarter. Sound Income Strategies LLC now owns 194,563 shares of the company’s stock valued at $5,078,000 after acquiring an additional 194,056 shares during the period. Vanguard Group Inc. raised its stake in shares of Gen Digital by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 72,213,797 shares of the company’s stock valued at $2,050,150,000 after acquiring an additional 964,046 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of Gen Digital in the 3rd quarter valued at approximately $8,238,000. Y Intercept Hong Kong Ltd raised its stake in shares of Gen Digital by 525.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,826 shares of the company’s stock valued at $2,380,000 after acquiring an additional 70,424 shares during the period. Finally, LBP AM SA raised its stake in shares of Gen Digital by 63.7% in the 4th quarter. LBP AM SA now owns 738,272 shares of the company’s stock valued at $20,074,000 after acquiring an additional 287,369 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Gen Digital Trading Up 1.3%

NASDAQ GEN opened at $19.63 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.50. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $32.22. The stock has a market capitalization of $11.89 billion, a PE ratio of 20.24 and a beta of 1.10. The firm has a 50 day moving average of $20.28 and a two-hundred day moving average of $24.04.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. Gen Digital had a net margin of 12.76% and a return on equity of 56.76%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business posted $0.56 EPS. The firm’s revenue was up 25.8% on a year-over-year basis. Gen Digital has set its Q4 2026 guidance at 0.640-0.660 EPS and its FY 2026 guidance at 2.540-2.560 EPS. As a group, research analysts expect that Gen Digital Inc. will post 2.29 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Monday, February 16th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, February 13th. Gen Digital’s payout ratio is 51.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GEN shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gen Digital in a research note on Thursday, January 22nd. Wells Fargo & Company started coverage on shares of Gen Digital in a research note on Tuesday, March 3rd. They set an “equal weight” rating and a $22.00 target price on the stock. Barclays cut their target price on shares of Gen Digital from $32.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Monday, April 13th. Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Zacks Research raised shares of Gen Digital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.86.

Gen Digital Company Profile

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.