Corient Private Wealth LLC Acquires 32,886 Shares of Gen Digital Inc. $GEN

Corient Private Wealth LLC grew its position in shares of Gen Digital Inc. (NASDAQ:GEN) by 21.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 184,422 shares of the company’s stock after purchasing an additional 32,886 shares during the period. Corient Private Wealth LLC’s holdings in Gen Digital were worth $5,016,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Gen Digital during the fourth quarter worth about $27,000. Clearstead Advisors LLC increased its position in Gen Digital by 48.6% during the 3rd quarter. Clearstead Advisors LLC now owns 1,223 shares of the company’s stock valued at $35,000 after purchasing an additional 400 shares during the period. TD Private Client Wealth LLC raised its holdings in Gen Digital by 65.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after purchasing an additional 611 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Gen Digital by 221.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after purchasing an additional 1,183 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Gen Digital in the 2nd quarter worth about $47,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John C. Chrystal bought 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the transaction, the director owned 31,419 shares in the company, valued at $850,198.14. The trade was a 10.56% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ondrej Vlcek sold 100,000 shares of Gen Digital stock in a transaction that occurred on 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 completion of the sale, the director directly owned 3,832,724 shares in the company, valued at approximately $94,974,900.72. The trade was a 2.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on GEN. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Royal Bank Of Canada lifted their price objective 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. Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays raised their target price on Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. 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, the stock presently has a consensus rating of “Hold” and an average price target of $31.29.

Gen Digital Stock Up 4.9%

Shares of GEN stock opened at $24.45 on Friday. The company has a market capitalization of $14.73 billion, a price-to-earnings ratio of 15.47 and a beta of 1.21. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.40 and a quick ratio of 0.40. The company’s fifty day moving average price is $23.13 and its 200-day moving average price is $23.41. Gen Digital Inc. has a one year low of $17.78 and a one year high of $32.22.

Gen Digital (NASDAQ:GEN) last released its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business posted $0.59 earnings per share. The firm’s revenue was up 27.0% on a year-over-year basis. 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. Sell-side analysts expect that Gen Digital Inc. will post 2.59 EPS for the current fiscal year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, May 18th. Gen Digital’s payout ratio is 31.65%.

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.