Coastal Bridge Advisors LLC Takes Position in Gen Digital Inc. $GEN

Coastal Bridge Advisors LLC bought a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 69,628 shares of the company’s stock, valued at approximately $1,733,000.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Gen Digital by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 73,310,110 shares of the company’s stock valued at $1,993,302,000 after buying an additional 1,096,313 shares during the last quarter. State Street Corp boosted its holdings in Gen Digital by 3.4% during the 3rd quarter. State Street Corp now owns 30,558,806 shares of the company’s stock worth $867,565,000 after acquiring an additional 1,015,755 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Gen Digital by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company’s stock worth $660,730,000 after acquiring an additional 1,406,869 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Gen Digital by 22.3% in the 4th quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock worth $542,211,000 after acquiring an additional 3,640,451 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Gen Digital by 14.3% in the 4th quarter. Boston Partners now owns 15,644,289 shares of the company’s stock worth $425,336,000 after acquiring an additional 1,954,712 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GEN. Argus raised shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Barclays upped their price objective on shares of Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Royal Bank Of Canada lifted their target price on shares of Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.67.

Gen Digital Trading Up 2.9%

NASDAQ GEN opened at $30.50 on Friday. The stock has a market capitalization of $18.26 billion, a price-to-earnings ratio of 17.73 and a beta of 1.21. Gen Digital Inc. has a one year low of $17.78 and a one year high of $30.93. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.47. The business’s fifty day moving average is $26.92 and its 200-day moving average is $23.76.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. 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 research analysts predict that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Dividend Announcement

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

Insider Transactions at Gen Digital

In related news, insider Travis Michael Witteveen sold 30,000 shares of the company’s 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 transaction, the insider owned 496,545 shares in the company, valued at approximately $14,608,353.90. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Chrystal acquired 3,000 shares of Gen Digital stock in a transaction on Thursday, June 4th. The shares were purchased at an average cost of $27.06 per share, with a total value of $81,180.00. Following the completion of the acquisition, the director owned 31,419 shares of the company’s stock, valued at $850,198.14. This trade represents a 10.56% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 430,260 shares of company stock worth $11,967,726 in the last quarter. Insiders own 9.70% of the company’s stock.

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.