CIBC Asset Management Inc Purchases 55,097 Shares of Gen Digital Inc. $GEN

CIBC Asset Management Inc raised its position in shares of Gen Digital Inc. (NASDAQ:GEN) by 69.8% in the fourth quarter, HoldingsChannel reports. The firm owned 134,000 shares of the company’s stock after buying an additional 55,097 shares during the quarter. CIBC Asset Management Inc’s holdings in Gen Digital were worth $3,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Gen Digital by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 73,310,110 shares of the company’s stock valued at $1,993,302,000 after purchasing an additional 1,096,313 shares during the period. State Street Corp grew its stake in shares of Gen Digital by 3.4% during the 3rd quarter. State Street Corp now owns 30,558,806 shares of the company’s stock valued at $867,565,000 after purchasing an additional 1,015,755 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Gen Digital by 2.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 22,961,310 shares of the company’s stock valued at $651,867,000 after purchasing an additional 487,393 shares during the period. First Trust Advisors LP grew its stake in shares of Gen Digital by 2.5% during the 3rd quarter. First Trust Advisors LP now owns 16,301,095 shares of the company’s stock valued at $462,788,000 after purchasing an additional 401,937 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Gen Digital by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 15,592,196 shares of the company’s stock valued at $422,461,000 after purchasing an additional 129,413 shares during the period. 81.38% of the stock is currently owned by institutional investors.

Gen Digital Stock Performance

Shares of NASDAQ:GEN opened at $26.28 on Monday. The stock has a 50 day moving average of $21.52 and a 200 day moving average of $23.64. The company has a market cap of $15.83 billion, a PE ratio of 16.63 and a beta of 1.20. 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.

Gen Digital (NASDAQ:GEN) last announced 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. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate 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 was up 27.0% on a year-over-year basis. During the same period in the previous year, the company 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 EPS for the current year.

Gen Digital Dividend Announcement

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

Insider Activity

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

Analyst Upgrades and Downgrades

GEN has been the subject of a number of recent research reports. Argus upgraded Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Royal Bank Of Canada boosted their price target on Gen Digital from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Barclays boosted their price target 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, Wells Fargo & Company started coverage on Gen Digital in a research note on Tuesday, March 3rd. They set an “equal weight” rating and a $22.00 price target for the company. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.29.

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.