21,004 Shares in Gen Digital Inc. $GEN Purchased by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC acquired a new position in shares of Gen Digital Inc. (NASDAQ:GEN) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 21,004 shares of the company’s stock, valued at approximately $523,000.

Several other hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in Gen Digital during the second quarter valued at approximately $225,169,000. Deutsche Bank AG acquired a new stake in shares of Gen Digital in the 2nd quarter valued at $146,639,000. Bank of New York Mellon Corp acquired a new stake in shares of Gen Digital in the 2nd quarter valued at $108,421,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Gen Digital by 45.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock valued at $246,567,000 after purchasing an additional 4,115,676 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Gen Digital by 22.3% in the 4th quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock valued at $542,211,000 after purchasing an additional 3,640,451 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Royal Bank Of Canada boosted their target price on Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Argus raised shares of Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Barclays raised their price target on shares of Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Finally, Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.67.

Insider Activity

In related news, Director John C. Chrystal purchased 3,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was bought 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 in the company, valued at approximately $850,198.14. This represents a 10.56% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Travis Michael Witteveen sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $29.42, for a total value of $882,600.00. Following the transaction, the insider owned 496,545 shares of the company’s stock, valued at $14,608,353.90. This trade represents a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 630,260 shares of company stock valued at $17,967,726. Company insiders own 9.70% of the company’s stock.

Gen Digital Price Performance

GEN stock opened at $31.00 on Tuesday. The company has a market capitalization of $18.56 billion, a P/E ratio of 18.02 and a beta of 1.21. The company has a fifty day moving average price of $27.22 and a 200-day moving average price of $23.84. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $31.29.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. Gen Digital’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. 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. As a group, equities analysts expect that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, August 17th. Gen Digital’s payout ratio is 29.07%.

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.