Hsbc Holdings PLC Has $24.38 Million Stock Position in Gen Digital Inc. $GEN

Hsbc Holdings PLC lowered its stake in shares of Gen Digital Inc. (NASDAQ:GEN) by 13.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 895,266 shares of the company’s stock after selling 136,639 shares during the period. Hsbc Holdings PLC’s holdings in Gen Digital were worth $24,382,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Gen Digital in the fourth quarter valued at $27,000. Clearstead Advisors LLC raised 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 acquiring an additional 400 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Gen Digital by 65.8% in the fourth 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 last quarter. MUFG Securities EMEA plc acquired a new stake in Gen Digital in the second quarter valued at $47,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Gen Digital by 221.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after acquiring an additional 1,183 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Gen Digital Stock Up 1.3%

Shares of GEN opened at $23.56 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.07. Gen Digital Inc. has a 12 month low of $17.78 and a 12 month high of $32.22. The firm’s 50 day moving average is $22.94 and its 200-day moving average is $23.43. The stock has a market capitalization of $14.19 billion, a PE ratio of 14.91 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 earnings per share. 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. Equities research analysts forecast that Gen Digital Inc. will post 2.59 EPS for the current year.

Gen Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 18th were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.50 annualized dividend and a yield of 2.1%. Gen Digital’s payout ratio is currently 31.65%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GEN shares. Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Jefferies Financial Group downgraded shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Argus raised shares of Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Barclays raised their price objective on shares of Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada boosted their price objective on Gen Digital from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.29.

Insiders Place Their Bets

In related news, Director John C. Chrystal purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the transaction, the director owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ondrej Vlcek sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were 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 SEC filing for this sale provides additional information. Corporate insiders own 9.30% of the company’s stock.

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.