Bank of New York Mellon Corp Increases Stock Position in Gen Digital Inc. $GEN

Bank of New York Mellon Corp grew its position in Gen Digital Inc. (NASDAQ:GEN) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,907,527 shares of the company’s stock after purchasing an additional 278,010 shares during the period. Bank of New York Mellon Corp’s holdings in Gen Digital were worth $133,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GEN. Arrowstreet Capital Limited Partnership raised its holdings in shares of Gen Digital by 46.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 6,600,836 shares of the company’s stock valued at $187,398,000 after purchasing an additional 2,103,335 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Gen Digital by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company’s stock worth $660,730,000 after buying an additional 1,406,869 shares during the last quarter. Norges Bank purchased a new stake in Gen Digital during the fourth quarter worth about $31,991,000. Qube Research & Technologies Ltd increased its holdings in Gen Digital by 72.8% during the third quarter. Qube Research & Technologies Ltd now owns 2,786,250 shares of the company’s stock worth $79,102,000 after buying an additional 1,174,048 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Gen Digital by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 73,310,110 shares of the company’s stock worth $1,993,302,000 after buying an additional 1,096,313 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GEN shares. 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 report on Friday, May 8th. Zacks Research upgraded shares of Gen Digital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada increased their target price on shares of Gen Digital from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Jefferies Financial Group lowered shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Wall Street Zen upgraded shares of Gen Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One equities research 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.29.

Gen Digital Price Performance

GEN stock opened at $26.28 on Friday. The firm has a 50 day moving average of $21.52 and a 200-day moving average of $23.65. 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 has a market capitalization of $15.83 billion, a P/E ratio of 16.63 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the business earned $0.59 earnings per share. Gen Digital’s revenue was up 27.0% compared to the same quarter last year. 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. As a group, sell-side analysts predict that Gen Digital Inc. will post 2.59 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 18th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, May 18th. Gen Digital’s dividend payout ratio (DPR) is currently 31.65%.

Insiders Place Their Bets

In related news, Director John C. Chrystal bought 3,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average cost of $27.06 per share, with a total value of $81,180.00. Following the completion of the purchase, the director directly owned 31,419 shares of the company’s stock, valued at $850,198.14. This trade represents a 10.56% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 9.30% of the stock is owned by corporate insiders.

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.