Gen Digital Inc. $GEN Stock Holdings Lifted by Allstate Corp

Allstate Corp raised its stake in Gen Digital Inc. (NASDAQ:GEN) by 98.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,788 shares of the company’s stock after buying an additional 21,689 shares during the period. Allstate Corp’s holdings in Gen Digital were worth $1,191,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Gen Digital in the 4th quarter valued at $27,000. Clearstead Advisors LLC lifted its stake in shares of Gen Digital by 48.6% in 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 last quarter. TD Private Client Wealth LLC lifted its stake in shares of Gen Digital by 65.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock valued at $42,000 after purchasing an additional 611 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Gen Digital by 221.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after purchasing an additional 1,183 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Gen Digital in the 2nd quarter valued at $47,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Gen Digital Stock Performance

Shares of GEN stock opened at $25.79 on Friday. The firm has a 50-day moving average of $20.86 and a 200-day moving average of $23.65. The company has a market cap of $15.54 billion, a P/E ratio of 16.32 and a beta of 1.10. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.40 and a quick ratio of 0.40. Gen Digital Inc. has a one year low of $17.78 and a one year high of $32.22.

Gen Digital (NASDAQ:GEN) last issued its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, topping 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 firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the business earned $0.59 earnings per share. The company’s quarterly 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. Equities research analysts forecast that Gen Digital Inc. will post 2.59 EPS for the current fiscal year.

Gen Digital Dividend Announcement

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%.

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.