Pictet Asset Management Holding SA Raises Position in Gen Digital Inc. $GEN

Pictet Asset Management Holding SA lifted its holdings in shares of Gen Digital Inc. (NASDAQ:GEN) by 26.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,272,058 shares of the company’s stock after purchasing an additional 1,115,390 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Gen Digital were worth $99,212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEN. Sound Income Strategies LLC raised its stake in Gen Digital by 38,275.3% during the fourth quarter. Sound Income Strategies LLC now owns 194,563 shares of the company’s stock worth $5,078,000 after purchasing an additional 194,056 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Gen Digital by 9.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company’s stock worth $30,128,000 after purchasing an additional 102,345 shares during the period. Legal & General Group Plc lifted its stake in shares of Gen Digital by 3.8% in the 4th quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock valued at $247,027,000 after purchasing an additional 334,156 shares in the last quarter. LBP AM SA lifted its stake in shares of Gen Digital by 63.7% in the 4th quarter. LBP AM SA now owns 738,272 shares of the company’s stock valued at $20,074,000 after purchasing an additional 287,369 shares in the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of Gen Digital during the 4th quarter worth about $1,652,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Gen Digital Price Performance

Shares of NASDAQ GEN opened at $24.45 on Monday. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $32.22. The business has a 50 day moving average price of $23.13 and a two-hundred day moving average price of $23.39. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.07. The firm has a market cap of $14.73 billion, a PE ratio of 15.47 and a beta of 1.20.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the business earned $0.59 EPS. Gen Digital’s revenue for the quarter was up 27.0% compared to the same quarter last year. 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 expect that Gen Digital Inc. will post 2.59 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 18th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Monday, May 18th. Gen Digital’s payout ratio is 31.65%.

Analyst Ratings Changes

GEN has been the subject of a number of research analyst reports. Argus raised shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Wells Fargo & Company started coverage on Gen Digital in a research report on Tuesday, March 3rd. They set an “equal weight” rating and a $22.00 price target on the stock. Royal Bank Of Canada upped their target price on shares of Gen Digital from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gen Digital in a report on Thursday, June 18th. Finally, Jefferies Financial Group downgraded shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.29.

Insider Buying and Selling at Gen Digital

In related news, Director John C. Chrystal purchased 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average cost of $27.06 per share, with a total value of $81,180.00. Following the completion of the acquisition, the director directly owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. The trade was a 10.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the transaction, the director owned 3,832,724 shares in the company, valued at $94,974,900.72. This trade represents a 2.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.30% of the company’s stock.

About Gen Digital

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.