Pacer Advisors Inc. Reduces Position in Gen Digital Inc. $GEN

Pacer Advisors Inc. decreased its position in shares of Gen Digital Inc. (NASDAQ:GEN) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,517,206 shares of the company’s stock after selling 84,155 shares during the period. Pacer Advisors Inc.’s holdings in Gen Digital were worth $66,229,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of Gen Digital by 7.4% in the first quarter. Bank of America Corp DE now owns 2,559,425 shares of the company’s stock valued at $48,194,000 after acquiring an additional 175,835 shares during the period. Edgestream Partners L.P. increased its holdings in shares of Gen Digital by 430.8% in the 1st quarter. Edgestream Partners L.P. now owns 58,721 shares of the company’s stock valued at $1,106,000 after acquiring an additional 47,659 shares during the period. Arkadios Wealth Advisors increased its holdings in shares of Gen Digital by 15.1% in the 1st quarter. Arkadios Wealth Advisors now owns 157,513 shares of the company’s stock valued at $2,966,000 after acquiring an additional 20,626 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Gen Digital by 14.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,376 shares of the company’s stock worth $64,000 after purchasing an additional 427 shares during the period. Finally, Empowered Funds LLC grew its position in Gen Digital by 38.8% during the 1st quarter. Empowered Funds LLC now owns 605,308 shares of the company’s stock worth $11,398,000 after purchasing an additional 169,221 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Gen Digital Stock Performance

NASDAQ:GEN opened at $27.45 on Monday. The firm’s fifty day moving average price is $25.62 and its 200 day moving average price is $23.24. Gen Digital Inc. has a 1-year low of $17.78 and a 1-year high of $32.22. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $16.43 billion, a price-to-earnings ratio of 17.37 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. Gen Digital’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. 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. On average, sell-side analysts expect that Gen Digital Inc. will post 2.61 EPS for the current year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, May 18th. Gen Digital’s payout ratio is 31.65%.

Analysts Set New Price Targets

A number of research firms have commented on GEN. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Weiss Ratings upgraded shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Barclays raised their price target on Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $27.00 price objective on shares of Gen Digital in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.33.

Insider Transactions at Gen Digital

In other news, Director John C. Chrystal acquired 3,000 shares of Gen Digital stock in a transaction that occurred 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 completion of the transaction, the director directly owned 31,419 shares in the company, valued at approximately $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ondrej Vlcek sold 100,000 shares of Gen Digital stock in a transaction that occurred 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 sale, the director directly owned 3,832,724 shares in the company, valued at $94,974,900.72. This represents a 2.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 9.70% of the company’s stock.

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.