Envestnet Portfolio Solutions Inc. Sells 2,166 Shares of Gen Digital Inc. (NASDAQ:GEN)

Envestnet Portfolio Solutions Inc. cut its position in Gen Digital Inc. (NASDAQ:GEN) by 20.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,415 shares of the company’s stock after selling 2,166 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Gen Digital were worth $223,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Curat Global LLC bought a new position in Gen Digital in the 1st quarter worth about $154,000. Sagespring Wealth Partners LLC purchased a new stake in Gen Digital in the first quarter valued at approximately $212,000. Fort Washington Investment Advisors Inc. OH bought a new stake in Gen Digital during the first quarter valued at approximately $225,000. Merit Financial Group LLC purchased a new position in Gen Digital in the 1st quarter worth approximately $273,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Gen Digital by 52.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company’s stock worth $296,000 after buying an additional 3,830 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Gen Digital Stock Performance

NASDAQ:GEN opened at $29.40 on Tuesday. The firm has a market cap of $18.23 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 1.09 and a beta of 1.01. Gen Digital Inc. has a fifty-two week low of $22.74 and a fifty-two week high of $31.72. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.51 and a current ratio of 0.51. The business has a 50 day moving average price of $28.10 and a 200-day moving average price of $27.37.

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

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were paid 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 1.70%. Gen Digital’s payout ratio is presently 48.08%.

Insider Transactions at Gen Digital

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 34,860 shares in the company, valued at approximately $1,002,573.60. This trade represents a 47.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GEN has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price objective on shares of Gen Digital from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 7th. Wall Street Zen raised Gen Digital from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Morgan Stanley cut their price objective on Gen Digital from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $27.50.

Gen Digital 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.