Deutsche Bank AG Invests $146.64 Million in Gen Digital Inc. $GEN

Deutsche Bank AG acquired a new stake in Gen Digital Inc. (NASDAQ:GEN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,891,498 shares of the company’s stock, valued at approximately $146,639,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in Gen Digital during the 2nd quarter valued at $108,421,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Gen Digital by 45.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock valued at $246,567,000 after buying an additional 4,115,676 shares during the period. First Trust Advisors LP boosted its stake in Gen Digital by 22.3% during the fourth quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock valued at $542,211,000 after buying an additional 3,640,451 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Gen Digital during the fourth quarter worth about $70,248,000. Finally, Victory Capital Management Inc. grew its holdings in Gen Digital by 167.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,328,737 shares of the company’s stock worth $90,508,000 after acquiring an additional 2,082,850 shares during the period. Institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

GEN has been the subject of several research reports. Barclays raised their price objective on shares of Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday. Jefferies Financial Group cut Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Wells Fargo & Company increased their price objective on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Gen Digital has a consensus rating of “Hold” and a consensus target price of $31.67.

Gen Digital Stock Performance

Shares of GEN opened at $27.54 on Thursday. Gen Digital Inc. has a one year low of $17.78 and a one year high of $31.88. The company has a 50-day moving average of $26.31 and a two-hundred day moving average of $23.50. The stock has a market cap of $16.49 billion, a price-to-earnings ratio of 16.01 and a beta of 1.21. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.47.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. On average, equities research analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, August 17th. Gen Digital’s payout ratio is presently 29.07%.

Insiders Place Their Bets

In other news, insider Travis Michael Witteveen sold 30,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $29.42, for a total value of $882,600.00. Following the completion of the sale, the insider owned 496,545 shares in the company, valued at $14,608,353.90. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ondrej Vlcek sold 100,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total value of $2,478,000.00. Following the completion of the sale, the director directly owned 3,832,724 shares of the company’s stock, valued at approximately $94,974,900.72. This trade represents a 2.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 130,440 shares of company stock worth $3,372,946. Corporate insiders own 9.70% of the company’s stock.

Gen Digital Company 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.