Corient Private Wealth LP Takes $4.69 Million Position in Gen Digital Inc. $GEN

Corient Private Wealth LP purchased a new position in shares of Gen Digital Inc. (NASDAQ:GEN) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 188,558 shares of the company’s stock, valued at approximately $4,694,000.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in Gen Digital in the fourth quarter valued at $27,000. Grove Bank & Trust lifted its holdings in shares of Gen Digital by 452.2% during the second quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock worth $28,000 after buying an additional 927 shares in the last quarter. Trust Co. of Vermont bought a new stake in Gen Digital in the 2nd quarter valued at about $32,000. Weiss Asset Management LP bought a new stake in shares of Gen Digital in the first quarter valued at approximately $41,000. Finally, TD Private Client Wealth LLC grew 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 purchasing an additional 611 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GEN. Argus raised shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Barclays raised their price objective on shares of Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Wells Fargo & Company boosted their price objective on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada raised their target price on Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. One research 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 a consensus rating of “Hold” and an average price target of $31.67.

Gen Digital Stock Performance

GEN stock opened at $31.00 on Tuesday. The stock has a 50-day moving average price of $27.22 and a 200-day moving average price of $23.84. Gen Digital Inc. has a 1-year low of $17.78 and a 1-year high of $31.29. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00. The firm has a market cap of $18.56 billion, a PE ratio of 18.02 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last announced its 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. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company earned $0.64 EPS. The firm’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. As a group, equities research analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders 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 annualized dividend and a dividend yield of 1.6%. Gen Digital’s dividend payout ratio (DPR) is 29.07%.

Insider Activity

In related news, insider Travis Michael Witteveen sold 30,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the transaction, the insider directly owned 496,545 shares of the company’s stock, valued at $14,608,353.90. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Chrystal purchased 3,000 shares of Gen Digital stock in a transaction on Thursday, June 4th. The stock was bought at an average price of $27.06 per share, with a total value of $81,180.00. Following the completion of the acquisition, the director directly owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. This trade represents a 10.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 630,260 shares of company stock worth $17,967,726 in the last quarter. 9.70% of the stock is owned by corporate insiders.

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.