1832 Asset Management L.P. Acquires New Shares in Gen Digital Inc. $GEN

1832 Asset Management L.P. acquired a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,951 shares of the company’s stock, valued at approximately $1,821,000.

Other large investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new position in Gen Digital in the second quarter valued at about $32,000. Geneos Wealth Management Inc. increased its position in shares of Gen Digital by 221.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after purchasing an additional 1,183 shares during the last quarter. Rise Advisors LLC lifted its stake in shares of Gen Digital by 19.2% in the 1st 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 purchased a new position in shares of Gen Digital in the first quarter worth approximately $85,000. Finally, Groupe la Francaise grew its position in Gen Digital by 60.4% during the second quarter. Groupe la Francaise now owns 4,062 shares of the company’s stock valued at $119,000 after buying an additional 1,529 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling

In other news, Director John C. Chrystal purchased 5,000 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were acquired at an average price of $27.14 per share, with a total value of $135,700.00. Following the transaction, the director owned 28,419 shares of the company’s stock, valued at $771,291.66. This represents a 21.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.30% of the stock is owned by insiders.

Gen Digital Trading Up 0.1%

Shares of GEN opened at $27.09 on Friday. The stock has a market capitalization of $16.71 billion, a PE ratio of 29.45, a P/E/G ratio of 0.90 and a beta of 1.11. The company’s fifty day moving average is $26.76 and its 200 day moving average is $28.63. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.51 and a current ratio of 0.51. Gen Digital Inc. has a fifty-two week low of $22.74 and a fifty-two week high of $32.22.

Gen Digital (NASDAQ:GEN) last announced its earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Gen Digital had a return on equity of 57.09% and a net margin of 12.74%.The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s quarterly revenue was up 25.3% on a year-over-year basis. 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. Sell-side analysts expect that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on GEN shares. Morgan Stanley increased their price target on shares of Gen Digital from $25.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 2nd. Jefferies Financial Group assumed coverage on Gen Digital in a research note on Friday, October 3rd. They issued a “hold” rating and a $31.00 price objective for the company. Wall Street Zen upgraded Gen Digital from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Gen Digital in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada lowered their price objective on Gen Digital from $33.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.43.

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.