Beutel Goodman & Co Ltd. Sells 1,284,841 Shares of Gen Digital Inc. $GEN

Beutel Goodman & Co Ltd. lessened its holdings in Gen Digital Inc. (NASDAQ:GEN) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,268,735 shares of the company’s stock after selling 1,284,841 shares during the quarter. Gen Digital accounts for approximately 2.6% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 5th biggest holding. Beutel Goodman & Co Ltd. owned approximately 2.48% of Gen Digital worth $448,900,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Gen Digital during the 2nd quarter valued at about $32,000. Geneos Wealth Management Inc. lifted its stake in Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after purchasing an additional 1,183 shares during the period. Rise Advisors LLC lifted its stake in Gen Digital by 19.2% during the first quarter. Rise Advisors LLC now owns 2,361 shares of the company’s stock worth $63,000 after purchasing an additional 381 shares during the period. Capital Analysts LLC acquired a new stake in Gen Digital during the first quarter valued at approximately $85,000. Finally, Groupe la Francaise grew its stake in shares of Gen Digital by 60.4% in the 2nd quarter. Groupe la Francaise now owns 4,062 shares of the company’s stock valued at $119,000 after purchasing an additional 1,529 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling at Gen Digital

In other Gen Digital news, Director John C. Chrystal purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was bought at an average cost of $27.14 per share, with a total value of $135,700.00. Following the purchase, the director directly owned 28,419 shares of the company’s stock, valued at $771,291.66. The trade was a 21.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 9.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on GEN. Barclays raised their target price on Gen Digital from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, August 8th. Royal Bank Of Canada lowered their price objective on shares of Gen Digital from $33.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday, November 7th. Wall Street Zen upgraded shares of Gen Digital from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Jefferies Financial Group started coverage on shares of Gen Digital in a research report on Friday, October 3rd. They set a “hold” rating and a $31.00 target price on the stock. Finally, Wells Fargo & Company increased their target price on Gen Digital from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.43.

Gen Digital Stock Performance

Shares of GEN opened at $27.06 on Friday. The firm has a market cap of $16.69 billion, a P/E ratio of 29.41, a PEG ratio of 0.91 and a beta of 1.11. Gen Digital Inc. has a twelve month low of $22.74 and a twelve month high of $32.22. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.51 and a current ratio of 0.51. The firm’s 50 day moving average price is $26.80 and its two-hundred day moving average price is $28.64.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Gen Digital had a net margin of 12.74% and a return on equity of 57.09%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period last year, the business posted $0.54 earnings per share. Gen Digital has set its FY 2026 guidance at 2.510-2.56 EPS and its Q3 2026 guidance at 0.620-0.64 EPS. On average, analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 17th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, November 17th. Gen Digital’s payout ratio is 54.35%.

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.