Arrowstreet Capital Limited Partnership Acquires 2,377,874 Shares of Gen Digital Inc. $GEN

Arrowstreet Capital Limited Partnership boosted its holdings in Gen Digital Inc. (NASDAQ:GEN) by 36.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,978,710 shares of the company’s stock after purchasing an additional 2,377,874 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Gen Digital were worth $244,131,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sound Income Strategies LLC grew its stake in Gen Digital by 38,275.3% in the fourth quarter. Sound Income Strategies LLC now owns 194,563 shares of the company’s stock valued at $5,078,000 after acquiring an additional 194,056 shares during the period. Vanguard Group Inc. boosted its position in shares of Gen Digital by 1.4% during the third quarter. Vanguard Group Inc. now owns 72,213,797 shares of the company’s stock valued at $2,050,150,000 after buying an additional 964,046 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Gen Digital during the third quarter valued at approximately $8,238,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of 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 last quarter. Finally, LBP AM SA boosted its position in shares of Gen Digital by 63.7% during the fourth quarter. LBP AM SA now owns 738,272 shares of the company’s stock valued at $20,074,000 after buying an additional 287,369 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Zacks Research raised Gen Digital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Argus raised Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Wells Fargo & Company started coverage on Gen Digital in a research report on Tuesday, March 3rd. They issued an “equal weight” rating and a $22.00 price objective on the stock. Wall Street Zen raised Gen Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group cut Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.29.

Insider Transactions at Gen Digital

In other Gen Digital news, Director Ondrej Vlcek sold 100,000 shares of the company’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 transaction, the director directly owned 3,832,724 shares in the company, valued at $94,974,900.72. This represents a 2.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John C. Chrystal acquired 3,000 shares of the business’s 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 acquisition, the director directly owned 31,419 shares in the company, valued at approximately $850,198.14. This represents a 10.56% increase in their position. The disclosure for this purchase is available in the SEC filing. 9.30% of the stock is owned by corporate insiders.

Gen Digital Stock Performance

NASDAQ:GEN opened at $24.32 on Monday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.40 and a current ratio of 0.40. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $32.22. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 15.39 and a beta of 1.20. The business’s fifty day moving average is $22.13 and its 200 day moving average is $23.58.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company posted $0.59 EPS. The firm’s revenue for the quarter 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. Research analysts predict that Gen Digital Inc. will post 2.59 EPS 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 paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, May 18th. Gen Digital’s dividend payout ratio is currently 31.65%.

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.