SEB Asset Management AB Takes Position in Gen Digital Inc. $GEN

SEB Asset Management AB purchased a new stake in Gen Digital Inc. (NASDAQ:GEN) during the first quarter, HoldingsChannel reports. The institutional investor purchased 1,034,695 shares of the company’s stock, valued at approximately $19,483,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in shares of Gen Digital by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company’s stock valued at $71,757,000 after buying an additional 28,522 shares during the period. Great Lakes Advisors LLC acquired a new stake in Gen Digital during the first quarter worth approximately $205,000. Woodline Partners LP increased its holdings in Gen Digital by 37.8% in the first quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock worth $732,000 after purchasing an additional 7,562 shares in the last quarter. Focus Partners Wealth increased its holdings in Gen Digital by 9.7% in the first quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock worth $593,000 after purchasing an additional 1,980 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Gen Digital by 221.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after buying an additional 1,183 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Gen Digital

In other news, Director John C. Chrystal bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average price of $27.06 per share, with a total value of $81,180.00. Following the acquisition, the director owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. The trade was a 10.56% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ondrej Vlcek sold 100,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the completion of the transaction, the director directly owned 3,832,724 shares in the company, valued at approximately $94,974,900.72. The trade was 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 Stock Performance

Shares of GEN stock opened at $26.74 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.07. The firm has a market cap of $16.11 billion, a P/E ratio of 16.92 and a beta of 1.21. The company has a 50 day moving average of $25.06 and a 200-day moving average of $23.24. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $32.22.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS 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 business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. Gen Digital’s revenue for the quarter was up 27.0% on a year-over-year basis. 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. Sell-side analysts anticipate that Gen Digital Inc. will post 2.59 earnings per share for the current year.

Gen Digital Announces Dividend

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

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings upgraded Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Jefferies Financial Group lowered shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen cut shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Barclays raised their price objective on Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Argus upgraded Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $29.33.

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.