Danske Bank A S Takes Position in Gen Digital Inc. $GEN

Danske Bank A S bought 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. The firm bought 598,752 shares of the company’s stock, valued at approximately $14,903,000. Danske Bank A S owned about 0.10% of Gen Digital as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEN. Assenagon Asset Management S.A. acquired a new position in shares of Gen Digital in the second quarter valued at $25,920,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Gen Digital by 9.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company’s stock worth $30,128,000 after buying an additional 102,345 shares during the period. Legal & General Group Plc raised its holdings in Gen Digital by 3.8% in the 4th quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock valued at $247,027,000 after acquiring an additional 334,156 shares during the period. National Pension Service lifted its position in Gen Digital by 13.6% during the fourth quarter. National Pension Service now owns 934,892 shares of the company’s stock worth $25,420,000 after acquiring an additional 112,136 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Gen Digital by 17.9% during 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. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling

In related news, Director John C. Chrystal acquired 3,000 shares of the company’s stock in a transaction that occurred 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 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ondrej Vlcek sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 owned 3,832,724 shares in the company, valued at $94,974,900.72. This represents a 2.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 130,440 shares of company stock worth $3,372,946 in the last three months. 9.70% of the stock is owned by corporate insiders.

Gen Digital Price Performance

GEN stock opened at $28.17 on Friday. The company’s 50-day moving average price is $26.40 and its two-hundred day moving average price is $23.53. The firm has a market cap of $16.86 billion, a P/E ratio of 16.38 and a beta of 1.21. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00. Gen Digital Inc. has a 12 month low of $17.78 and a 12 month high of $31.88.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.Gen Digital’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. 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, analysts anticipate that Gen Digital Inc. will post 2.64 earnings per share 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. This represents a $0.50 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, August 17th. Gen Digital’s dividend payout ratio is currently 29.07%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group lowered Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Finally, Royal Bank Of Canada increased their target price on shares of Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. One research 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. According to MarketBeat.com, the company has an average 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.