Gen Digital Inc. $GEN Stake Trimmed by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in shares of Gen Digital Inc. (NASDAQ:GEN) by 9.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 123,333 shares of the company’s stock after selling 12,321 shares during the period. Illinois Municipal Retirement Fund’s holdings in Gen Digital were worth $3,626,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in Gen Digital by 15.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 164,012 shares of the company’s stock valued at $4,353,000 after purchasing an additional 21,814 shares during the period. Cerity Partners LLC raised its position in Gen Digital by 23.1% during the first quarter. Cerity Partners LLC now owns 78,471 shares of the company’s stock valued at $2,083,000 after buying an additional 14,707 shares during the period. New York State Common Retirement Fund boosted its position in Gen Digital by 2.4% during the 1st quarter. New York State Common Retirement Fund now owns 328,095 shares of the company’s stock worth $8,708,000 after acquiring an additional 7,600 shares during the period. CWM LLC grew its stake in Gen Digital by 17.4% during the 1st quarter. CWM LLC now owns 27,717 shares of the company’s stock valued at $736,000 after acquiring an additional 4,118 shares in the last quarter. Finally, MQS Management LLC purchased a new position in Gen Digital during the 1st quarter valued at about $253,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays increased their price target 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. Royal Bank Of Canada cut their target price on shares of Gen Digital from $33.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday, November 7th. Wells Fargo & Company lifted their target price on shares of Gen Digital from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Jefferies Financial Group started coverage on shares of Gen Digital in a research note on Friday, October 3rd. They issued a “hold” rating and a $31.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Gen Digital in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Gen Digital presently has an average rating of “Moderate Buy” and a consensus price target of $35.43.

Gen Digital Trading Down 0.5%

Shares of NASDAQ:GEN opened at $27.00 on Thursday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 3.63. The stock has a market capitalization of $16.63 billion, a PE ratio of 27.84, a P/E/G ratio of 0.87 and a beta of 0.94. Gen Digital Inc. has a 1 year low of $22.74 and a 1 year high of $32.22. The firm has a fifty day moving average price of $27.65 and a 200 day moving average price of $28.75.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company posted $0.54 EPS. The firm’s revenue was up 25.3% on a year-over-year basis. Gen Digital has set its FY 2026 guidance at 2.510-2.56 EPS. Q3 2026 guidance at 0.620-0.64 EPS. Analysts expect that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, November 17th. Gen Digital’s dividend payout ratio is 54.35%.

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.