Vestcor Inc Sells 38,823 Shares of Gen Digital Inc. $GEN

Vestcor Inc trimmed its holdings in Gen Digital Inc. (NASDAQ:GEN) by 46.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,542 shares of the company’s stock after selling 38,823 shares during the period. Vestcor Inc’s holdings in Gen Digital were worth $1,265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Spire Wealth Management increased its holdings in shares of Gen Digital by 1,183.3% during the 3rd quarter. Spire Wealth Management now owns 1,078 shares of the company’s stock worth $31,000 after acquiring an additional 994 shares during the last quarter. True Wealth Design LLC boosted its position in Gen Digital by 92.0% during the third quarter. True Wealth Design LLC now owns 1,104 shares of the company’s stock worth $31,000 after purchasing an additional 529 shares during the period. Clearstead Advisors LLC boosted its position in Gen Digital by 48.6% during the third quarter. Clearstead Advisors LLC now owns 1,223 shares of the company’s stock worth $35,000 after purchasing an additional 400 shares during the period. CYBER HORNET ETFs LLC acquired a new position in shares of Gen Digital in the second quarter valued at $44,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Gen Digital in the second quarter valued at $47,000. 81.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GEN. Wells Fargo & Company began coverage on shares of Gen Digital in a research note on Tuesday, March 3rd. They set an “equal weight” rating and a $22.00 target price for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Gen Digital in a report on Thursday, January 22nd. Zacks Research upgraded shares of Gen Digital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Barclays decreased their target price on Gen Digital from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Friday, February 6th. Finally, Wall Street Zen upgraded Gen Digital from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Gen Digital has a consensus rating of “Hold” and a consensus price target of $32.71.

Gen Digital Stock Down 2.5%

GEN stock opened at $21.24 on Thursday. The business has a 50-day simple moving average of $24.17 and a 200 day simple moving average of $26.43. Gen Digital Inc. has a 52 week low of $21.06 and a 52 week high of $32.22. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.50. The company has a market cap of $12.86 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 0.73 and a beta of 1.11.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. Gen Digital had a net margin of 12.76% and a return on equity of 56.76%. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. Gen Digital has set its Q4 2026 guidance at 0.640-0.660 EPS and its FY 2026 guidance at 2.540-2.560 EPS. Sell-side analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Monday, February 16th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. Gen Digital’s dividend payout ratio is 51.55%.

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.