Lbp Am Sa Has $16.97 Million Stock Holdings in Gen Digital Inc. (NASDAQ:GEN)

Lbp Am Sa lowered its stake in shares of Gen Digital Inc. (NASDAQ:GEN) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 639,268 shares of the company’s stock after selling 23,142 shares during the quarter. Lbp Am Sa owned approximately 0.10% of Gen Digital worth $16,966,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Gen Digital in the 4th quarter valued at approximately $14,367,000. QSM Asset Management Ltd acquired a new stake in shares of Gen Digital in the 4th quarter valued at approximately $5,373,000. Brighton Jones LLC raised its position in shares of Gen Digital by 5.4% in the 4th quarter. Brighton Jones LLC now owns 25,212 shares of the company’s stock valued at $690,000 after acquiring an additional 1,299 shares during the period. Wellington Management Group LLP raised its position in shares of Gen Digital by 98.8% in the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company’s stock valued at $3,140,000 after acquiring an additional 56,993 shares during the period. Finally, Kera Capital Partners Inc. raised its holdings in Gen Digital by 41.7% during the 1st quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company’s stock worth $313,000 after buying an additional 3,466 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling at Gen Digital

In other news, Director Nora Denzel sold 31,646 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $28.76, for a total transaction of $910,138.96. Following the sale, the director directly owned 34,860 shares in the company, valued at approximately $1,002,573.60. The trade was a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 12.20% of the company’s stock.

Wall Street Analysts Forecast Growth

GEN has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Gen Digital from a “strong-buy” rating to a “buy” rating in a report on Saturday. Evercore ISI began coverage on shares of Gen Digital in a report on Tuesday, July 1st. They set an “outperform” rating and a $35.00 target price for the company. Morgan Stanley cut their price target on shares of Gen Digital from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Royal Bank Of Canada boosted their price target on shares of Gen Digital from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Gen Digital has a consensus rating of “Buy” and an average target price of $30.00.

Gen Digital Trading Down 0.5%

GEN stock opened at $29.94 on Wednesday. The company has a debt-to-equity ratio of 3.51, a current ratio of 0.51 and a quick ratio of 0.51. The company has a fifty day moving average price of $28.70 and a two-hundred day moving average price of $27.45. Gen Digital Inc. has a one year low of $22.74 and a one year high of $31.72. The stock has a market cap of $18.57 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.01.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $999.48 million. During the same period in the previous year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital’s dividend payout ratio (DPR) is currently 48.08%.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.