Robeco Institutional Asset Management B.V. Buys 176,207 Shares of Gen Digital Inc. $GEN

Robeco Institutional Asset Management B.V. lifted its stake in Gen Digital Inc. (NASDAQ:GEN) by 8.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,377,320 shares of the company’s stock after buying an additional 176,207 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Gen Digital were worth $52,349,000 at the end of the most recent reporting period.

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

Gen Digital Trading Up 3.2%

Shares of NASDAQ GEN opened at $24.89 on Friday. Gen Digital Inc. has a 1-year low of $17.78 and a 1-year high of $31.65. The company has a 50-day moving average of $26.80 and a two-hundred day moving average of $25.10. The company has a market cap of $14.90 billion, a PE ratio of 10.53, a P/E/G ratio of 0.76 and a beta of 1.26. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.71 EPS 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 analysts’ expectations 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 was up 6.3% compared to the same quarter last year. During the same period in the prior 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. As a group, equities analysts expect that Gen Digital Inc. will post 2.66 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th were issued a dividend of $0.1250 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.50 annualized dividend and a yield of 2.0%. Gen Digital’s dividend payout ratio is currently 29.07%.

Wall Street Analyst Weigh In

GEN has been the topic of several analyst reports. Wells Fargo & Company upped their target price 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. Royal Bank Of Canada cut their price target on shares of Gen Digital from $26.00 to $24.00 and set a “sector perform” rating for the company in a report on Monday, October 12th. Weiss Ratings upgraded shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. 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 research note on Friday, August 7th. Finally, Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. One equities 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.25.

Insiders Place Their Bets

In other Gen Digital news, COO Bryan Seuk Ko sold 28,248 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $30.67, for a total value of $866,366.16. Following the transaction, the chief operating officer directly owned 744,262 shares in the company, valued at approximately $22,826,515.54. This trade represents a 3.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ondrej Vlcek sold 200,000 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $30.00, for a total value of $6,000,000.00. Following the completion of the transaction, the director owned 3,332,904 shares in the company, valued at $99,987,120. The trade was a 5.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 558,508 shares of company stock valued at $16,356,093. 9.70% of the stock is currently owned by corporate insiders.

Gen Digital Profile

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.