Los Angeles Capital Management LLC Cuts Stock Position in Gen Digital Inc. $GEN

Los Angeles Capital Management LLC lessened its holdings in Gen Digital Inc. (NASDAQ:GEN) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,300,825 shares of the company’s stock after selling 29,477 shares during the period. Los Angeles Capital Management LLC’s holdings in Gen Digital were worth $33,939,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Sound Income Strategies LLC boosted 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 valued at $5,078,000 after buying an additional 194,056 shares during the last quarter. Vanguard Group Inc. grew its position in Gen Digital by 1.4% in the third quarter. Vanguard Group Inc. now owns 72,213,797 shares of the company’s stock worth $2,050,150,000 after acquiring an additional 964,046 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in Gen Digital in the third quarter worth about $8,238,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Gen Digital by 9.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company’s stock worth $30,128,000 after acquiring an additional 102,345 shares in the last quarter. Finally, LBP AM SA grew its position in Gen Digital by 63.7% in the fourth quarter. LBP AM SA now owns 738,272 shares of the company’s stock worth $20,074,000 after acquiring an additional 287,369 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Gen Digital Price Performance

Shares of NASDAQ GEN opened at $26.28 on Monday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $15.83 billion, a P/E ratio of 16.63 and a beta of 1.20. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $32.22. The firm has a 50-day simple moving average of $21.52 and a two-hundred day simple moving average of $23.64.

Gen Digital (NASDAQ:GEN) last announced 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. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, May 18th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.50 annualized dividend and a yield of 1.9%. Gen Digital’s dividend payout ratio (DPR) is presently 31.65%.

Analyst Ratings Changes

GEN has been the subject of several recent research reports. Jefferies Financial Group lowered Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Zacks Research upgraded Gen Digital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Argus upgraded Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Wells Fargo & Company initiated coverage on Gen Digital in a research report on Tuesday, March 3rd. They issued an “equal weight” rating and a $22.00 price target for the company. Finally, Barclays lifted their price target on Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Gen Digital currently has a consensus rating of “Hold” and a consensus target price of $31.29.

Insider Transactions at Gen Digital

In other news, Director John C. Chrystal acquired 3,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $27.06 per share, with a total value of $81,180.00. Following the completion of the purchase, the director directly owned 31,419 shares in the company, valued at approximately $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.30% of the stock is currently owned by insiders.

Gen Digital 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.