Mutual of America Capital Management LLC Sells 3,010 Shares of Gen Digital Inc. (NASDAQ:GEN)

Mutual of America Capital Management LLC cut its stake in shares of Gen Digital Inc. (NASDAQ:GEN) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,760 shares of the company’s stock after selling 3,010 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Gen Digital were worth $2,196,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in Gen Digital by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 5,184,489 shares of the company’s stock worth $137,596,000 after purchasing an additional 117,013 shares during the last quarter. Penserra Capital Management LLC boosted its position in Gen Digital by 33.0% in the first quarter. Penserra Capital Management LLC now owns 2,972,160 shares of the company’s stock worth $78,880,000 after purchasing an additional 736,809 shares during the last quarter. KBC Group NV boosted its position in Gen Digital by 32.7% in the first quarter. KBC Group NV now owns 2,769,361 shares of the company’s stock worth $73,499,000 after purchasing an additional 682,530 shares during the last quarter. Achmea Investment Management B.V. boosted its position in Gen Digital by 40.2% in the first quarter. Achmea Investment Management B.V. now owns 1,454,610 shares of the company’s stock worth $38,605,000 after purchasing an additional 417,206 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Gen Digital by 6.6% in the first 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 during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Activity at Gen Digital

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.76, for a total transaction of $910,138.96. Following the completion of the sale, the director owned 34,860 shares of the company’s stock, valued at $1,002,573.60. This trade represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. 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 on the stock. B. Riley initiated coverage on Gen Digital in a research note on Monday, July 14th. They set a “buy” rating and a $46.00 target price on the stock. Barclays lifted their price objective on Gen Digital from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Wall Street Zen downgraded Gen Digital from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 5th. Finally, Royal Bank Of Canada lifted their price objective on Gen Digital from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Gen Digital Trading Up 0.4%

Shares of NASDAQ:GEN opened at $30.27 on Friday. The business’s 50-day moving average is $29.19 and its 200 day moving average is $27.57. Gen Digital Inc. has a 1 year low of $22.74 and a 1 year high of $31.72. The firm has a market capitalization of $18.77 billion, a P/E ratio of 29.11, a P/E/G ratio of 1.10 and a beta of 1.01. The company has a debt-to-equity ratio of 3.51, a current ratio of 0.51 and a quick ratio of 0.51.

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

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were issued a $0.125 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 1.65%. Gen Digital’s dividend payout ratio is presently 48.08%.

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.