Sumitomo Mitsui Trust Group Inc. Sells 131,788 Shares of Gen Digital Inc. $GEN

Sumitomo Mitsui Trust Group Inc. lowered its stake in Gen Digital Inc. (NASDAQ:GEN) by 9.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,255,294 shares of the company’s stock after selling 131,788 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Gen Digital worth $23,637,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GEN. International Assets Investment Management LLC acquired a new stake in Gen Digital in the fourth quarter valued at approximately $27,000. TD Private Client Wealth LLC lifted its stake in shares of Gen Digital by 65.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock valued at $42,000 after acquiring an additional 611 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Gen Digital in the 2nd quarter valued at $47,000. Geneos Wealth Management Inc. boosted its holdings in shares of Gen Digital by 221.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after acquiring an additional 1,183 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Gen Digital by 47.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,756 shares of the company’s stock valued at $50,000 after acquiring an additional 568 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Gen Digital Stock Performance

NASDAQ:GEN opened at $26.16 on Tuesday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.40 and a current ratio of 0.40. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $32.22. The company has a 50 day simple moving average of $24.56 and a two-hundred day simple moving average of $23.27. The company has a market capitalization of $15.76 billion, a PE ratio of 16.56 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.59 EPS. The company’s revenue for the quarter 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. Research analysts anticipate that Gen Digital Inc. will post 2.59 earnings per share for the current year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 18th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.9%. Gen Digital’s dividend payout ratio is 31.65%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

GEN has been the subject of a number of recent research reports. Jefferies Financial Group cut Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen lowered Gen Digital from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Royal Bank Of Canada boosted their price target on Gen Digital from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Argus raised Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Finally, Barclays raised their price objective on shares of Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.83.

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.