Gen Digital Inc. $GEN Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Gen Digital Inc. (NASDAQ:GEN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 315,333 shares of the company’s stock, valued at approximately $6,944,000.

Several other institutional investors have also made changes to their positions in the business. Vise Technologies Inc. bought a new stake in Gen Digital in the third quarter valued at about $500,000. State of Wyoming raised its position in Gen Digital by 46.9% in the third quarter. State of Wyoming now owns 14,171 shares of the company’s stock worth $312,000 after purchasing an additional 4,523 shares in the last quarter. Choreo LLC bought a new position in Gen Digital during the third quarter worth about $247,000. D.A. Davidson & CO. lifted its stake in Gen Digital by 6.4% during the third quarter. D.A. Davidson & CO. now owns 14,975 shares of the company’s stock worth $330,000 after purchasing an additional 900 shares during the period. Finally, BOKF NA bought a new position in Gen Digital during the third quarter worth about $860,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Travis Witteveen sold 30,000 shares of Gen Digital stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $29.75, for a total value of $892,500.00. Following the completion of the transaction, the insider owned 466,545 shares in the company, valued at approximately $13,879,713.75. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Bryan Seuk Ko sold 28,248 shares of Gen Digital stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $30.67, for a total transaction of $866,366.16. Following the completion of the transaction, the chief operating officer owned 744,262 shares of the company’s stock, valued at $22,826,515.54. This trade represents a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 588,508 shares of company stock valued at $17,248,593. 9.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GEN shares. Barclays lifted their price objective on Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Morgan Stanley increased their target price on Gen Digital from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Thursday, October 29th. Wells Fargo & Company increased their target price on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Royal Bank Of Canada boosted their price target on Gen Digital from $24.00 to $27.00 and gave the company a “sector perform” rating in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.60.

Gen Digital Stock Down 0.9%

Shares of NASDAQ:GEN opened at $30.60 on Friday. The company’s fifty day moving average is $26.58 and its 200-day moving average is $24.47. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.37 and a current ratio of 0.37. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $31.65. The company has a market capitalization of $18.15 billion, a PE ratio of 12.76, a P/E/G ratio of 0.97 and a beta of 1.24.

Gen Digital (NASDAQ:GEN) last announced its earnings results on Wednesday, October 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Gen Digital had a net margin of 23.07% and a return on equity of 56.80%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the company posted $0.62 EPS. Equities research analysts predict that Gen Digital Inc. will post 2.65 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Monday, November 16th will be given a $0.1250 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.50 dividend on an annualized basis and a yield of 1.6%. Gen Digital’s payout ratio is 25.13%.

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.