Yousif Capital Management LLC Sells 563 Shares of Gen Digital Inc. (NASDAQ:GEN)

Yousif Capital Management LLC trimmed its stake in Gen Digital Inc. (NASDAQ:GEN) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,864 shares of the company’s stock after selling 563 shares during the quarter. Yousif Capital Management LLC’s holdings in Gen Digital were worth $1,828,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEN. Rhumbline Advisers boosted its position in shares of Gen Digital by 6.6% during the 1st quarter. Rhumbline Advisers now owns 1,116,301 shares of the company’s stock worth $29,627,000 after purchasing an additional 69,558 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Gen Digital in the fourth quarter worth approximately $14,367,000. GAMMA Investing LLC boosted its holdings in Gen Digital by 2,954.9% in the first quarter. GAMMA Investing LLC now owns 322,169 shares of the company’s stock worth $8,550,000 after acquiring an additional 311,623 shares in the last quarter. QSM Asset Management Ltd acquired a new stake in Gen Digital in the fourth quarter valued at approximately $5,373,000. Finally, Czech National Bank increased its holdings in shares of Gen Digital by 5.9% during the first quarter. Czech National Bank now owns 124,568 shares of the company’s stock valued at $3,306,000 after acquiring an additional 6,995 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GEN. Morgan Stanley cut their target price on Gen Digital from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Royal Bank of Canada raised their price objective on shares of Gen Digital from $28.00 to $30.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 7th.

Insider Activity at Gen Digital

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.76, for a total value of $910,138.96. Following the transaction, the director now owns 34,860 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. 12.20% of the stock is owned by insiders.

Gen Digital Stock Performance

Shares of Gen Digital stock opened at $29.78 on Monday. The company has a market cap of $18.47 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $31.72. The business has a 50 day moving average price of $27.02 and a 200-day moving average price of $27.47. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 3.29.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $999.48 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. Gen Digital’s revenue was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 1.68%. Gen Digital’s dividend payout ratio 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.