Gen Digital Inc. (NASDAQ:GEN) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC increased its stake in shares of Gen Digital Inc. (NASDAQ:GEN) by 33.0% in the first quarter, HoldingsChannel reports. The firm owned 2,972,160 shares of the company’s stock after buying an additional 736,809 shares during the quarter. Gen Digital makes up approximately 1.4% of Penserra Capital Management LLC’s holdings, making the stock its 12th biggest holding. Penserra Capital Management LLC’s holdings in Gen Digital were worth $78,880,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GEN. Wellington Management Group LLP grew its holdings in shares of Gen Digital by 98.8% during the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company’s stock worth $3,140,000 after buying an additional 56,993 shares in the last quarter. Cornerstone Wealth Group LLC purchased a new stake in Gen Digital in the 1st quarter worth approximately $377,000. Exchange Traded Concepts LLC grew its stake in Gen Digital by 52.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company’s stock worth $296,000 after acquiring an additional 3,830 shares during the period. Kendall Capital Management raised its holdings in Gen Digital by 20.0% in the 1st quarter. Kendall Capital Management now owns 60,640 shares of the company’s stock valued at $1,609,000 after acquiring an additional 10,105 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Gen Digital during the 1st quarter worth $273,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.76, for a total transaction of $910,138.96. Following the completion of the sale, the director directly owned 34,860 shares in the company, valued at $1,002,573.60. The trade was a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.20% of the company’s stock.

Gen Digital Trading Up 2.2%

Shares of GEN opened at $30.48 on Friday. Gen Digital Inc. has a twelve month low of $22.74 and a twelve month high of $31.72. The firm has a market capitalization of $18.90 billion, a P/E ratio of 29.31, a price-to-earnings-growth ratio of 1.14 and a beta of 1.01. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.51. The stock’s fifty day simple moving average is $28.53 and its 200 day simple moving average is $27.42.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $999.48 million. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. On average, equities research analysts forecast that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were issued a $0.125 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.50 annualized dividend and a yield of 1.64%. Gen Digital’s payout ratio is 48.08%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GEN shares. Wall Street Zen downgraded Gen Digital from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada raised their price target on Gen Digital from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Evercore ISI assumed coverage on shares of Gen Digital in a research note on Tuesday, July 1st. They set an “outperform” rating and a $35.00 price objective for the company. Finally, Morgan Stanley decreased their target price on shares of Gen Digital from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Gen Digital presently has a consensus rating of “Buy” and an average target price of $30.00.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.