Gen Digital Inc. $GEN Stake Lifted by Alberta Investment Management Corp

Alberta Investment Management Corp increased its stake in shares of Gen Digital Inc. (NASDAQ:GEN) by 24.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,550,000 shares of the company’s stock after acquiring an additional 300,000 shares during the period. Alberta Investment Management Corp’s holdings in Gen Digital were worth $42,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC lifted 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 valued at $5,078,000 after buying an additional 194,056 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Gen Digital by 1.4% in 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 period. Jupiter Asset Management Ltd. acquired a new stake in shares of Gen Digital in the third quarter valued at $8,238,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings 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 purchasing an additional 102,345 shares during the last quarter. Finally, LBP AM SA lifted its holdings 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 purchasing an additional 287,369 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Transactions at Gen Digital

In related news, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the completion of the sale, the director 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Chrystal bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average price of $27.06 per share, with a total value of $81,180.00. Following the purchase, the director owned 31,419 shares in the company, valued at $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 9.30% of the company’s stock.

Wall Street Analysts Forecast Growth

GEN has been the subject of several analyst reports. Wells Fargo & Company initiated coverage on Gen Digital in a report on Tuesday, March 3rd. They set an “equal weight” rating and a $22.00 target price for the company. Royal Bank Of Canada upped their price target on Gen Digital from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Barclays upped their price target on Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Wall Street Zen raised Gen Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Argus raised Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.29.

Gen Digital Stock Performance

Shares of NASDAQ GEN opened at $24.41 on Tuesday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $14.71 billion, a price-to-earnings ratio of 15.45 and a beta of 1.20. The business’s 50-day simple moving average is $22.24 and its 200-day simple moving average is $23.57. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $32.22.

Gen Digital (NASDAQ:GEN) last issued 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. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 EPS. 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, equities research analysts expect that Gen Digital Inc. will post 2.59 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th were issued 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 dividend yield of 2.0%. Gen Digital’s dividend payout ratio is currently 31.65%.

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.