L2 Asset Management LLC Acquires Shares of 21,206 Gen Digital Inc. $GEN

L2 Asset Management LLC bought a new position in Gen Digital Inc. (NASDAQ:GEN) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 21,206 shares of the company’s stock, valued at approximately $528,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deutsche Bank AG purchased a new position in shares of Gen Digital during the second quarter worth approximately $146,639,000. Bank of New York Mellon Corp purchased a new stake in shares of Gen Digital in the second quarter valued at approximately $108,421,000. Arrowstreet Capital Limited Partnership grew its stake in Gen Digital by 45.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock worth $246,567,000 after purchasing an additional 4,115,676 shares in the last quarter. First Trust Advisors LP grew its stake in Gen Digital by 22.3% in the fourth quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock worth $542,211,000 after purchasing an additional 3,640,451 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in Gen Digital during the 4th quarter worth $70,248,000. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gen Digital

In other Gen Digital news, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction dated 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 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 represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John C. Chrystal purchased 3,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was purchased at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the acquisition, the director directly owned 31,419 shares in the company, valued at approximately $850,198.14. This represents a 10.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 277,902 shares of company stock worth $7,549,344 over the last quarter. Insiders own 9.70% of the company’s stock.

Gen Digital Stock Up 0.7%

Shares of NASDAQ GEN opened at $29.31 on Wednesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00. The stock has a market capitalization of $17.54 billion, a PE ratio of 17.04 and a beta of 1.21. The stock’s fifty day simple moving average is $26.68 and its two-hundred day simple moving average is $23.66. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $31.13.

Gen Digital (NASDAQ:GEN) last announced 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. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. 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. As a group, analysts expect that Gen Digital Inc. will post 2.64 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. Gen Digital’s dividend payout ratio (DPR) is presently 29.07%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GEN. Weiss Ratings upgraded Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Royal Bank Of Canada raised their price target on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Wells Fargo & Company lifted their price objective on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Finally, Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.67.

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.