Simon Quick Advisors LLC Invests $388,000 in Gen Digital Inc. (NASDAQ:GEN)

Simon Quick Advisors LLC purchased a new position in shares of Gen Digital Inc. (NASDAQ:GEN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,619 shares of the company’s stock, valued at approximately $388,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEN. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Gen Digital during the 4th quarter worth $14,367,000. GAMMA Investing LLC lifted its stake in shares of Gen Digital by 2,954.9% during the 1st quarter. GAMMA Investing LLC now owns 322,169 shares of the company’s stock worth $8,550,000 after purchasing an additional 311,623 shares during the last quarter. QSM Asset Management Ltd purchased a new stake in shares of Gen Digital during the 4th quarter worth $5,373,000. Rhumbline Advisers lifted its stake in shares of Gen Digital by 6.6% during the 1st quarter. Rhumbline Advisers now owns 1,116,301 shares of the company’s stock worth $29,627,000 after purchasing an additional 69,558 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Gen Digital by 98.8% during the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company’s stock worth $3,140,000 after purchasing an additional 56,993 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Gen Digital Trading Down 1.6%

Gen Digital stock opened at $29.78 on Friday. The stock has a 50-day moving average of $27.02 and a two-hundred day moving average of $27.49. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.35 and a current ratio of 0.35. Gen Digital Inc. has a one year low of $22.74 and a one year high of $31.72. The stock has a market cap of $18.47 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $999.48 million. During the same period last year, the business posted $0.53 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, research analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital’s payout ratio is 48.08%.

Insider Transactions at Gen Digital

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $28.76, for a total value of $910,138.96. Following the sale, the director now directly owns 34,860 shares of the company’s stock, valued at approximately $1,002,573.60. This trade represents a 47.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.20% of the company’s stock.

Analyst Ratings Changes

GEN has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on Gen Digital from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada upped their price objective on Gen Digital from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th.

About Gen Digital

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.