L2 Asset Management LLC Invests $528,000 in Gen Digital Inc. $GEN

L2 Asset Management LLC acquired a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 21,206 shares of the company’s stock, valued at approximately $528,000.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Gen Digital during the 4th quarter valued at about $27,000. Grove Bank & Trust boosted its holdings in Gen Digital by 452.2% in the second quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock worth $28,000 after acquiring an additional 927 shares in the last quarter. Trust Co. of Vermont acquired a new stake in Gen Digital in the second quarter worth about $32,000. Weiss Asset Management LP purchased a new stake in shares of Gen Digital during the first quarter worth about $41,000. Finally, TD Private Client Wealth LLC grew its stake in shares of Gen Digital by 65.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after acquiring an additional 611 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Argus raised shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Barclays raised their price target on shares of Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada lifted their price objective on shares of Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.67.

Gen Digital Trading Up 0.7%

Gen Digital stock opened at $29.31 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $31.13. The company has a market capitalization of $17.54 billion, a price-to-earnings ratio of 17.04 and a beta of 1.21. The stock has a 50-day moving average price of $26.68 and a 200 day moving average price of $23.66.

Gen Digital (NASDAQ:GEN) last issued its earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The firm 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 firm earned $0.64 earnings per share. Gen Digital’s revenue for the quarter was up 6.3% on a year-over-year basis. 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. Sell-side analysts anticipate that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s dividend payout ratio is 29.07%.

Insider Transactions at Gen Digital

In other Gen Digital news, Director John C. Chrystal bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the transaction, 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. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ondrej Vlcek sold 47,462 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $29.00, for a total transaction of $1,376,398.00. Following the completion of the sale, the director directly owned 3,685,262 shares in the company, valued at approximately $106,872,598. The trade was a 1.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 277,902 shares of company stock worth $7,549,344 over the last 90 days. 9.70% of the stock is currently owned by company insiders.

About Gen Digital

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.