Swedbank AB Sells 45,986 Shares of Gen Digital Inc. $GEN

Swedbank AB cut its holdings in shares of Gen Digital Inc. (NASDAQ:GEN) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 751,319 shares of the company’s stock after selling 45,986 shares during the period. Swedbank AB owned 0.12% of Gen Digital worth $20,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GEN. Vanguard Group Inc. raised its stake in shares of Gen Digital by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 73,310,110 shares of the company’s stock worth $1,993,302,000 after buying an additional 1,096,313 shares during the last quarter. State Street Corp boosted its stake in Gen Digital by 3.4% in the third quarter. State Street Corp now owns 30,558,806 shares of the company’s stock valued at $867,565,000 after acquiring an additional 1,015,755 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Gen Digital by 2.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 22,961,310 shares of the company’s stock worth $651,867,000 after acquiring an additional 487,393 shares during the period. First Trust Advisors LP grew its holdings in Gen Digital by 2.5% during the 3rd quarter. First Trust Advisors LP now owns 16,301,095 shares of the company’s stock worth $462,788,000 after acquiring an additional 401,937 shares during the period. Finally, Boston Partners raised its position in shares of Gen Digital by 4.3% during the 3rd quarter. Boston Partners now owns 13,689,577 shares of the company’s stock valued at $388,610,000 after acquiring an additional 565,836 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GEN shares. Wall Street Zen raised Gen Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research raised Gen Digital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada upped their price objective on Gen Digital from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Jefferies Financial Group cut Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Barclays boosted their target price on Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.29.

Gen Digital Price Performance

Shares of GEN opened at $24.82 on Tuesday. The stock has a 50 day simple moving average of $20.53 and a 200 day simple moving average of $23.66. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $32.22. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.47 and a current ratio of 0.40. The firm has a market capitalization of $15.03 billion, a PE ratio of 15.71 and a beta of 1.10.

Gen Digital (NASDAQ:GEN) last announced its earnings results on Thursday, May 7th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company posted $0.59 EPS. The business’s quarterly revenue was up 27.0% on a year-over-year basis. 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. Sell-side analysts predict that Gen Digital Inc. will post 2.66 EPS for the current fiscal year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 18th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, May 18th. Gen Digital’s dividend payout ratio (DPR) is presently 31.65%.

Gen Digital 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.