Gen Digital Inc. $GEN Shares Bought by Railway Pension Investments Ltd

Railway Pension Investments Ltd lifted its holdings in Gen Digital Inc. (NASDAQ:GEN) by 98.6% in the second quarter, HoldingsChannel reports. The firm owned 1,320,600 shares of the company’s stock after buying an additional 655,500 shares during the quarter. Railway Pension Investments Ltd’s holdings in Gen Digital were worth $32,870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Gen Digital by 3.4% during the third quarter. State Street Corp now owns 30,558,806 shares of the company’s stock worth $867,565,000 after buying an additional 1,015,755 shares during the period. Ameriprise Financial Inc. raised its stake in Gen Digital by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company’s stock worth $660,730,000 after acquiring an additional 1,406,869 shares in the last quarter. First Trust Advisors LP increased its position in shares of Gen Digital by 22.3% during 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. Boston Partners lifted its stake in Gen Digital by 14.3% in the fourth quarter. Boston Partners now owns 15,644,289 shares of the company’s stock valued at $425,336,000 after buying an additional 1,954,712 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Gen Digital by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 15,592,196 shares of the company’s stock valued at $422,461,000 after purchasing an additional 129,413 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John C. Chrystal purchased 3,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average cost of $27.06 per share, with a total value of $81,180.00. Following the acquisition, the director 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Travis Michael Witteveen sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.42, for a total value of $882,600.00. Following the sale, the insider owned 496,545 shares of the company’s stock, valued at $14,608,353.90. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 630,260 shares of company stock worth $17,967,726. 9.70% of the stock is currently owned by company insiders.

Gen Digital Stock Performance

Gen Digital stock opened at $31.00 on Tuesday. Gen Digital Inc. has a 12 month low of $17.78 and a 12 month high of $31.29. The stock’s 50-day moving average is $27.22 and its 200-day moving average is $23.84. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $18.56 billion, a price-to-earnings ratio of 18.02 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. Gen Digital’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $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. Equities analysts anticipate that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.6%. Gen Digital’s payout ratio is 29.07%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays increased their price objective on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Royal Bank Of Canada upped 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. Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company raised their price target on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. One investment 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.67.

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.