Barclays PLC Sells 563,212 Shares of Gen Digital Inc. $GEN

Barclays PLC reduced its stake in Gen Digital Inc. (NASDAQ:GEN) by 22.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,984,575 shares of the company’s stock after selling 563,212 shares during the period. Barclays PLC owned approximately 0.32% of Gen Digital worth $56,342,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. True Wealth Design LLC increased its holdings in shares of Gen Digital by 92.0% in the third quarter. True Wealth Design LLC now owns 1,104 shares of the company’s stock worth $31,000 after purchasing an additional 529 shares during the last quarter. Spire Wealth Management lifted its position in shares of Gen Digital by 1,183.3% in the third quarter. Spire Wealth Management now owns 1,078 shares of the company’s stock worth $31,000 after buying an additional 994 shares in the last quarter. Clearstead Advisors LLC boosted its stake in Gen Digital by 48.6% during the third quarter. Clearstead Advisors LLC now owns 1,223 shares of the company’s stock valued at $35,000 after buying an additional 400 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in Gen Digital during the second quarter valued at approximately $44,000. Finally, Geneos Wealth Management Inc. grew its holdings in 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 buying an additional 1,183 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

GEN has been the topic of a number of research reports. Wall Street Zen raised Gen Digital from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Wells Fargo & Company initiated coverage on Gen Digital in a research report on Tuesday, March 3rd. They set an “equal weight” rating and a $22.00 target price for the company. Barclays cut their target price on shares of Gen Digital from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gen Digital in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Gen Digital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.71.

Insider Activity

In other news, Director Ondrej Vlcek sold 113,674 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $27.12, for a total value of $3,082,838.88. Following the completion of the sale, the director owned 3,932,980 shares in the company, valued at approximately $106,662,417.60. This trade represents a 2.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.30% of the company’s stock.

Gen Digital Price Performance

Shares of Gen Digital stock opened at $22.55 on Tuesday. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 0.75 and a beta of 1.11. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a 50 day moving average price of $24.40 and a 200-day moving average price of $26.53. Gen Digital Inc. has a one year low of $21.33 and a one year high of $32.22.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. Gen Digital had a return on equity of 56.76% and a net margin of 12.76%.Gen Digital’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 EPS. Gen Digital has set its Q4 2026 guidance at 0.640-0.660 EPS and its FY 2026 guidance at 2.540-2.560 EPS. Equities analysts expect that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Monday, February 16th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.50 annualized dividend and a dividend yield of 2.2%. Gen Digital’s dividend payout ratio is currently 51.55%.

About Gen Digital

Gen Digital (NASDAQ: GEN) is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.

Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.