Rakuten Investment Management Inc. Invests $2.23 Million in Gen Digital Inc. $GEN

Rakuten Investment Management Inc. bought a new stake in Gen Digital Inc. (NASDAQ:GEN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 88,928 shares of the company’s stock, valued at approximately $2,227,000.

A number of other large investors have also added to or reduced their stakes in the company. Trust Co. of Vermont acquired a new position in Gen Digital in the 2nd quarter worth $32,000. International Assets Investment Management LLC acquired a new stake in shares of Gen Digital during the fourth quarter valued at about $27,000. Grove Bank & Trust increased its position in shares of Gen Digital by 452.2% during the second quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock worth $28,000 after acquiring an additional 927 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of Gen Digital by 65.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after acquiring an additional 611 shares during the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Gen Digital during the second quarter worth about $47,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Gen Digital Stock Performance

Shares of Gen Digital stock opened at $31.02 on Monday. The firm has a market cap of $18.57 billion, a PE ratio of 18.03 and a beta of 1.21. The firm’s 50-day simple moving average is $27.06 and its 200-day simple moving average is $23.80. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $31.29.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. Equities analysts forecast that Gen Digital Inc. will post 2.64 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s dividend payout ratio (DPR) is currently 29.07%.

Insiders Place Their Bets

In other news, insider Travis Michael Witteveen sold 30,000 shares of Gen Digital stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $29.42, for a total value of $882,600.00. Following the completion of the transaction, the insider owned 496,545 shares in the company, valued at approximately $14,608,353.90. This trade represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Chrystal purchased 3,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was purchased at an average price of $27.06 per share, with a total value of $81,180.00. Following the completion of the acquisition, the director directly owned 31,419 shares in the company, valued at approximately $850,198.14. The trade was a 10.56% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 630,260 shares of company stock valued at $17,967,726 in the last quarter. Insiders own 9.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GEN shares. Royal Bank Of Canada increased their price target on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Barclays lifted their price objective on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Wells Fargo & Company increased their target price on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.67.

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.