Gen Digital Inc. $GEN Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in Gen Digital Inc. (NASDAQ:GEN) by 105.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 934,617 shares of the company’s stock after buying an additional 478,886 shares during the quarter. Wellington Management Group LLP’s holdings in Gen Digital were worth $23,263,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new position in Gen Digital in the 2nd quarter worth about $25,920,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings 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 valued at $30,128,000 after purchasing an additional 102,345 shares during the period. Legal & General Group Plc grew its holdings in Gen Digital by 3.8% in the fourth quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock valued at $247,027,000 after purchasing an additional 334,156 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Gen Digital by 17.9% in the first quarter. The Manufacturers Life Insurance Company now owns 384,754 shares of the company’s stock valued at $7,245,000 after buying an additional 58,319 shares in the last quarter. Finally, National Pension Service increased its position in shares of Gen Digital by 13.6% in the fourth quarter. National Pension Service now owns 934,892 shares of the company’s stock valued at $25,420,000 after buying an additional 112,136 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Gen Digital

In related news, Director Ondrej Vlcek sold 200,000 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the director owned 3,332,904 shares of the company’s stock, valued at approximately $99,987,120. This represents a 5.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Travis Witteveen sold 30,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the completion of the sale, the insider owned 496,545 shares of the company’s stock, 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 630,260 shares of company stock valued at $17,967,726 over the last quarter. Company insiders own 9.70% of the company’s stock.

Gen Digital Stock Performance

Shares of NASDAQ:GEN opened at $30.65 on Friday. 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 business’s 50 day moving average price is $27.78 and its 200-day moving average price is $24.03. The firm has a market capitalization of $18.35 billion, a PE ratio of 17.82, a P/E/G ratio of 0.97 and a beta of 1.22. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $31.65.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $1.34 billion during 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 firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $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, equities research analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, August 17th. Gen Digital’s dividend payout ratio is 29.07%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GEN. Wall Street Zen lowered Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Barclays boosted their price target 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. Wells Fargo & Company upped their price objective on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Royal Bank Of Canada increased their price objective on shares of Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.60.

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.