Gen Digital Inc. $GEN Shares Sold by Convergence Financial LLC

Convergence Financial LLC reduced its holdings in Gen Digital Inc. (NASDAQ:GEN) by 29.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,839 shares of the company’s stock after selling 27,635 shares during the quarter. Convergence Financial LLC’s holdings in Gen Digital were worth $1,428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEN. Assenagon Asset Management S.A. purchased a new stake in Gen Digital in the 2nd quarter worth approximately $25,920,000. Hsbc Holdings PLC raised its holdings in shares of Gen Digital by 49.4% during the second quarter. Hsbc Holdings PLC now owns 1,324,155 shares of the company’s stock valued at $32,976,000 after acquiring an additional 437,646 shares in the last quarter. Empowered Funds LLC purchased a new stake in Gen Digital in the second quarter worth $12,705,000. The Manufacturers Life Insurance Company lifted its stake in Gen Digital by 17.9% in the first quarter. The Manufacturers Life Insurance Company now owns 384,754 shares of the company’s stock worth $7,245,000 after acquiring an additional 58,319 shares during the period. Finally, Bank of America Corp DE bought a new stake in Gen Digital in the second quarter valued at $62,004,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Gen Digital Trading Up 0.4%

Shares of NASDAQ:GEN opened at $24.35 on Thursday. The stock’s 50-day simple moving average is $26.47 and its two-hundred day simple moving average is $24.37. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $14.58 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.78 and a beta of 1.26. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $31.65.

Gen Digital (NASDAQ:GEN) last announced its earnings results on Wednesday, October 28th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. Analysts expect that Gen Digital Inc. will post 2.66 EPS for the current year.

Gen Digital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 17th were paid a dividend of $0.1250 per share. The ex-dividend date was Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.1%. Gen Digital’s payout ratio is 29.07%.

Wall Street Analyst Weigh In

Several brokerages have commented on GEN. Barclays upped their price objective on shares of Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Royal Bank Of Canada reduced their price target on shares of Gen Digital from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Monday, October 12th. Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Wells Fargo & Company raised their price objective on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.25.

Insider Transactions at Gen Digital

In other Gen Digital news, COO Bryan Seuk Ko sold 28,248 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $30.67, for a total transaction of $866,366.16. Following the completion of the sale, the chief operating officer directly owned 744,262 shares of the company’s stock, valued at $22,826,515.54. This trade represents a 3.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Travis Witteveen sold 30,000 shares of Gen Digital stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the sale, the insider owned 496,545 shares in the company, valued at approximately $14,608,353.90. The trade was a 5.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 558,508 shares of company stock valued at $16,356,093 over the last 90 days. Company insiders own 9.70% of the company’s stock.

More Gen Digital News

Here are the key news stories impacting Gen Digital this week:

• Positive Sentiment: Quarterly results exceeded expectations. Gen Digital reported adjusted earnings of $0.74 per share, above the $0.72 analyst consensus and up from $0.62 a year earlier. Revenue increased 12.2% year over year to $1.37 billion, topping the $1.34 billion estimate. Gen Digital Q2 earnings and revenues top estimates
• Positive Sentiment: Management raised its fiscal 2027 outlook. The company cited strong cybersecurity demand and another quarter of double-digit growth, while increasing its annual revenue forecast. It also provided guidance for the third quarter, giving investors additional visibility into near-term performance. Gen Digital raises annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Gen outperformed several cybersecurity peers. Gen Digital rose as Fortinet plunged after hours and dragged Tenable lower, suggesting investors viewed Gen’s results and outlook as comparatively resilient within the cybersecurity sector. Fortinet plunges after hours as Gen Digital rises
• Neutral Sentiment: The earnings call reinforced the results. Management discussed the second-quarter performance, demand trends and the company’s updated fiscal 2027 expectations, providing context for the improved outlook. Gen Digital Q2 2027 earnings call transcript
• Negative Sentiment: Technical indicators remain a headwind. The stock recently crossed below its 200-day moving average, while its 50-day average remains above the current trading level. This may limit enthusiasm among technically focused investors despite the favorable earnings report. Gen Digital stock crosses below its 200-day moving average

About Gen Digital

Gen Digital Inc (NASDAQ: GEN) is a cybersecurity company that provides digital safety, privacy, and identity protection products for consumers. Its services are designed to help protect devices, personal information, online accounts, and digital identities from malware, fraud, identity theft, scams, and other cyber threats.

The company operates a portfolio of consumer brands that includes Norton, Avast, LifeLock, Avira, AVG, ReputationDefender, and CCleaner. Its offerings include antivirus and device security software, virtual private network services, password management, identity theft monitoring and restoration support, privacy tools, scam protection, and performance and optimization utilities.

Gen Digital serves customers internationally through direct subscriptions and distribution partnerships.