Ameriprise Financial Inc. Has $651.87 Million Stake in Gen Digital Inc. $GEN

Ameriprise Financial Inc. lifted its holdings in Gen Digital Inc. (NASDAQ:GEN) by 2.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,961,310 shares of the company’s stock after purchasing an additional 487,393 shares during the period. Ameriprise Financial Inc. owned 3.72% of Gen Digital worth $651,867,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GEN. True Wealth Design LLC increased its position in Gen Digital by 92.0% in the 3rd quarter. True Wealth Design LLC now owns 1,104 shares of the company’s stock worth $31,000 after buying an additional 529 shares during the period. Spire Wealth Management grew its stake 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 acquiring an additional 994 shares during the last quarter. Clearstead Advisors LLC increased its position in Gen Digital by 48.6% during the third quarter. Clearstead Advisors LLC now owns 1,223 shares of the company’s stock worth $35,000 after acquiring an additional 400 shares during the period. CYBER HORNET ETFs LLC bought a new position in Gen Digital during the second quarter worth $44,000. Finally, Geneos Wealth Management Inc. raised its stake 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 purchasing an additional 1,183 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

GEN has been the subject of a number of research reports. Jefferies Financial Group raised shares of Gen Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. Wall Street Zen upgraded shares of Gen Digital from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Zacks Research raised shares of Gen Digital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Wells Fargo & Company assumed coverage on shares of Gen Digital in a research note on Tuesday, March 3rd. They issued an “equal weight” rating and a $22.00 target price for the company. Finally, Barclays decreased their target price on Gen Digital from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Gen Digital has an average rating of “Hold” and a consensus target price of $32.71.

Gen Digital Stock Performance

NASDAQ:GEN opened at $20.68 on Monday. The firm has a market capitalization of $12.53 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 0.69 and a beta of 1.11. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.50. Gen Digital Inc. has a 12-month low of $20.61 and a 12-month high of $32.22. The firm has a 50-day moving average price of $23.94 and a 200 day moving average price of $26.25.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data 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. Gen Digital had a return on equity of 56.76% and a net margin of 12.76%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the company posted $0.56 EPS. The company’s revenue was up 25.8% compared to the same quarter last year. 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. Research analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Monday, February 16th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. Gen Digital’s dividend payout ratio (DPR) is presently 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.