Y Intercept Hong Kong Ltd Buys New Position in Gen Digital Inc. $GEN

Y Intercept Hong Kong Ltd bought a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 78,481 shares of the company’s stock, valued at approximately $1,478,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of Gen Digital during the 4th quarter valued at $27,000. TD Private Client Wealth LLC lifted its holdings in shares of Gen Digital by 65.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after acquiring an additional 611 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in Gen Digital in the second quarter worth $47,000. Geneos Wealth Management Inc. grew its position in Gen Digital by 221.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after acquiring an additional 1,183 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Gen Digital by 47.8% in the third quarter. Brown Brothers Harriman & Co. now owns 1,756 shares of the company’s stock valued at $50,000 after acquiring an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling

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 bought at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the acquisition, the director directly owned 31,419 shares of the company’s stock, valued at $850,198.14. This represents a 10.56% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ondrej Vlcek sold 100,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the sale, the director owned 3,832,724 shares of the company’s stock, valued at $94,974,900.72. This represents a 2.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 9.30% of the company’s stock.

Analysts Set New Price Targets

GEN has been the topic of a number of research reports. Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Barclays upped their target price on Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Wall Street Zen cut shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Argus raised shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Finally, Royal Bank Of Canada boosted their price objective on shares of Gen Digital from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Gen Digital has a consensus rating of “Hold” and an average price target of $31.29.

Gen Digital Trading Down 0.3%

Shares of GEN traded down $0.08 during trading hours on Friday, hitting $25.91. The company had a trading volume of 2,796,719 shares, compared to its average volume of 6,160,020. The firm has a market cap of $15.61 billion, a P/E ratio of 16.40 and a beta of 1.21. The stock’s 50 day moving average price is $24.43 and its 200 day moving average price is $23.31. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.07. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $32.22.

Gen Digital (NASDAQ:GEN) last issued its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the business posted $0.59 EPS. Gen Digital’s quarterly revenue was up 27.0% compared to the same quarter last year. Gen Digital has set its Q1 2027 guidance at 0.680-0.700 EPS and its FY 2027 guidance at 2.850-2.950 EPS. On average, research analysts predict that Gen Digital Inc. will post 2.59 EPS for the current year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, May 18th. Gen Digital’s dividend payout ratio is 31.65%.

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.