Bank of Montreal Can Has $54.79 Million Position in Gen Digital Inc. $GEN

Bank of Montreal Can lowered its holdings in shares of Gen Digital Inc. (NASDAQ:GEN) by 12.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,863,588 shares of the company’s stock after selling 258,411 shares during the period. Bank of Montreal Can’s holdings in Gen Digital were worth $54,789,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. First Hawaiian Bank raised its position in Gen Digital by 129.6% in the 1st quarter. First Hawaiian Bank now owns 75,278 shares of the company’s stock valued at $1,998,000 after purchasing an additional 42,488 shares during the last quarter. Sierra Summit Advisors LLC bought a new position in Gen Digital in the 1st quarter valued at $5,732,000. Generali Investments CEE investicni spolecnost a.s. raised its stake in shares of Gen Digital by 15.5% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 170,049 shares of the company’s stock worth $4,999,000 after acquiring an additional 22,884 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Gen Digital by 66.1% in the first quarter. Allianz Asset Management GmbH now owns 763,677 shares of the company’s stock worth $20,268,000 after acquiring an additional 304,036 shares during the last quarter. Finally, Cozad Asset Management Inc. raised its stake in shares of Gen Digital by 4.6% in the first quarter. Cozad Asset Management Inc. now owns 274,400 shares of the company’s stock worth $7,283,000 after acquiring an additional 12,000 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gen Digital in a research note on Wednesday, October 8th. Jefferies Financial Group initiated coverage on shares of Gen Digital in a research report on Friday, October 3rd. They issued a “hold” rating and a $31.00 price objective for the company. B. Riley initiated coverage on shares of Gen Digital in a research report on Monday, July 14th. They issued a “buy” rating and a $46.00 price objective for the company. Barclays boosted their price objective on shares of Gen Digital from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Gen Digital from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Gen Digital currently has an average rating of “Moderate Buy” and an average price target of $35.71.

Gen Digital Trading Down 0.1%

Shares of NASDAQ GEN opened at $25.84 on Thursday. The company’s 50 day simple moving average is $28.01 and its 200 day simple moving average is $28.69. Gen Digital Inc. has a fifty-two week low of $22.74 and a fifty-two week high of $32.22. The firm has a market capitalization of $15.91 billion, a P/E ratio of 26.64, a P/E/G ratio of 0.87 and a beta of 0.94. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.50 and a quick ratio of 0.50.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $0.53 earnings per share. Gen Digital’s revenue was up 30.3% compared to the same quarter last year. On average, analysts predict that Gen Digital Inc. will post 2.05 EPS for the current year.

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.