Gen Digital Inc. $GEN Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in shares of Gen Digital Inc. (NASDAQ:GEN) by 341.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,044,438 shares of the company’s stock after purchasing an additional 808,000 shares during the period. Renaissance Technologies LLC’s holdings in Gen Digital were worth $19,667,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Sound Income Strategies LLC grew its holdings in shares of Gen Digital by 38,275.3% in the fourth quarter. Sound Income Strategies LLC now owns 194,563 shares of the company’s stock worth $5,078,000 after purchasing an additional 194,056 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Gen Digital by 9.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company’s stock valued at $30,128,000 after buying an additional 102,345 shares during the period. Legal & General Group Plc increased its holdings in shares of Gen Digital by 3.8% in the 4th quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock valued at $247,027,000 after acquiring an additional 334,156 shares during the period. LBP AM SA raised its position in shares of Gen Digital by 63.7% in the 4th quarter. LBP AM SA now owns 738,272 shares of the company’s stock worth $20,074,000 after acquiring an additional 287,369 shares in the last quarter. Finally, National Pension Service raised its position in shares of Gen Digital by 13.6% in the 4th quarter. National Pension Service now owns 934,892 shares of the company’s stock worth $25,420,000 after acquiring an additional 112,136 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Activity

In other news, Director Ondrej Vlcek sold 100,000 shares of the firm’s 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 in the company, valued at $94,974,900.72. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John C. Chrystal acquired 3,000 shares of Gen Digital stock in a transaction dated Thursday, June 4th. The stock was purchased at an average price of $27.06 per share, with a total value of $81,180.00. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. 9.30% of the stock is currently owned by insiders.

Gen Digital Trading Down 1.2%

NASDAQ GEN opened at $27.29 on Friday. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $32.22. The company has a fifty day simple moving average of $25.57 and a two-hundred day simple moving average of $23.23. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.07. The stock has a market cap of $16.34 billion, a P/E ratio of 17.27 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company earned $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. On average, analysts forecast that Gen Digital Inc. will post 2.61 earnings per share for the current year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 18th were given 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 1.8%. Gen Digital’s payout ratio is currently 31.65%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GEN shares. Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $27.00 target price on shares of Gen Digital in a report on Thursday, July 16th. Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings upgraded shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Finally, Barclays boosted 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 note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.