Meeder Advisory Services Inc. Takes Position in Gen Digital Inc. $GEN

Meeder Advisory Services Inc. acquired a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 23,473 shares of the company’s stock, valued at approximately $584,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Gen Digital during the fourth quarter worth about $27,000. Grove Bank & Trust boosted its position in Gen Digital by 452.2% during the 2nd quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock worth $28,000 after buying an additional 927 shares during the period. Trust Co. of Vermont bought a new stake in Gen Digital during the 2nd quarter worth approximately $32,000. Weiss Asset Management LP bought a new stake in Gen Digital during the 1st quarter worth approximately $41,000. Finally, TD Private Client Wealth LLC increased its position in Gen Digital by 65.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock valued at $42,000 after acquiring an additional 611 shares during the period. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GEN. Argus raised shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Weiss Ratings upgraded Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Barclays raised their target price on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Wells Fargo & Company lifted 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. Finally, Wall Street Zen lowered Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.67.

Insiders Place Their Bets

In other news, Director Ondrej Vlcek sold 100,000 shares of Gen Digital stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total value of $2,478,000.00. Following the completion of the transaction, the director directly owned 3,832,724 shares of the company’s stock, valued at approximately $94,974,900.72. This trade represents a 2.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John C. Chrystal acquired 3,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was acquired at an average cost of $27.06 per share, with a total value of $81,180.00. Following the completion of the transaction, the director owned 31,419 shares in the company, valued at approximately $850,198.14. This represents a 10.56% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 130,440 shares of company stock worth $3,372,946. Company insiders own 9.70% of the company’s stock.

Gen Digital Stock Up 2.3%

Shares of NASDAQ GEN opened at $28.17 on Friday. The company has a market capitalization of $16.86 billion, a P/E ratio of 16.38 and a beta of 1.21. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $31.88. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. The company’s 50 day moving average price is $26.40 and its 200-day moving average price is $23.53.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the company posted $0.64 earnings per share. Gen Digital’s revenue for the quarter was up 6.3% compared to the same quarter last year. 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. Equities analysts forecast that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a yield of 1.8%. Gen Digital’s dividend payout ratio is 29.07%.

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.