Brandywine Global Investment Management LLC Has $9.94 Million Position in Gen Digital Inc. (NASDAQ:GEN)

Brandywine Global Investment Management LLC lowered its stake in shares of Gen Digital Inc. (NASDAQ:GEN) by 1.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 374,370 shares of the company’s stock after selling 6,055 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Gen Digital were worth $9,936,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GEN. Vanguard Group Inc. lifted its stake in Gen Digital by 3.7% during the first quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company’s stock worth $1,849,593,000 after purchasing an additional 2,513,464 shares during the last quarter. Boston Partners lifted its stake in Gen Digital by 37.3% during the first quarter. Boston Partners now owns 13,358,167 shares of the company’s stock worth $354,456,000 after purchasing an additional 3,631,052 shares during the last quarter. Nuveen LLC bought a new stake in Gen Digital during the first quarter worth $299,562,000. Invesco Ltd. lifted its stake in Gen Digital by 5.6% during the first quarter. Invesco Ltd. now owns 9,227,444 shares of the company’s stock worth $244,896,000 after purchasing an additional 491,977 shares during the last quarter. Finally, LSV Asset Management lifted its stake in Gen Digital by 1.5% during the first quarter. LSV Asset Management now owns 8,208,034 shares of the company’s stock worth $217,841,000 after purchasing an additional 119,354 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on Gen Digital from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Friday, August 8th. Wells Fargo & Company upped their target price on Gen Digital from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Evercore ISI assumed coverage on Gen Digital in a research note on Tuesday, July 1st. They set an “outperform” rating and a $35.00 target price for the company. B. Riley assumed coverage on Gen Digital in a research note on Monday, July 14th. They set a “buy” rating and a $46.00 target price for the company. Finally, Barclays increased their price target on Gen Digital from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, August 8th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Gen Digital Stock Down 0.1%

Shares of GEN opened at $31.47 on Friday. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $32.22. The stock has a market capitalization of $19.38 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.05 and a beta of 1.00. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.51 and a current ratio of 0.50. The stock has a fifty day moving average of $29.90 and a 200-day moving average of $27.97.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $0.53 EPS. Gen Digital’s revenue was up 30.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, August 18th. Gen Digital’s dividend payout ratio (DPR) is currently 51.55%.

About Gen Digital

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.