Chase Investment Counsel Corp Sells 111,728 Shares of Gen Digital Inc. $GEN

Chase Investment Counsel Corp cut its holdings in Gen Digital Inc. (NASDAQ:GEN) by 43.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 146,762 shares of the company’s stock after selling 111,728 shares during the quarter. Gen Digital accounts for 1.2% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 26th largest holding. Chase Investment Counsel Corp’s holdings in Gen Digital were worth $4,166,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GEN. True Wealth Design LLC lifted its position in shares of Gen Digital by 92.0% during the 3rd quarter. True Wealth Design LLC now owns 1,104 shares of the company’s stock valued at $31,000 after acquiring an additional 529 shares during the period. Spire Wealth Management increased its stake in Gen Digital by 1,183.3% in the third quarter. Spire Wealth Management now owns 1,078 shares of the company’s stock valued at $31,000 after purchasing an additional 994 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Gen Digital during the second quarter valued at about $32,000. Clearstead Advisors LLC raised its holdings in shares of 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 purchasing an additional 400 shares during the period. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Gen Digital during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GEN shares. Evercore upped their price target on Gen Digital from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Barclays decreased their price objective on Gen Digital from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, February 6th. Wall Street Zen upgraded Gen Digital from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Zacks Research upgraded shares of Gen Digital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Gen Digital in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Gen Digital presently has an average rating of “Hold” and an average target price of $35.29.

Gen Digital Price Performance

Shares of NASDAQ:GEN opened at $21.65 on Tuesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.50. The stock’s fifty day simple moving average is $25.44 and its two-hundred day simple moving average is $27.16. Gen Digital Inc. has a 1-year low of $21.33 and a 1-year high of $32.22. The stock has a market cap of $13.11 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 0.74 and a beta of 1.09.

Gen Digital (NASDAQ:GEN) last posted its earnings results on Thursday, February 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.01. Gen Digital had a net margin of 12.76% and a return on equity of 56.76%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business posted $0.56 EPS. The business’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. As a group, analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Monday, February 16th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.50 annualized dividend and a dividend yield of 2.3%. Gen Digital’s dividend payout ratio (DPR) is currently 51.55%.

Insider Buying and Selling at Gen Digital

In other news, Director Ondrej Vlcek sold 113,674 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $27.12, for a total value of $3,082,838.88. Following the completion of the transaction, the director directly owned 3,932,980 shares of the company’s stock, valued at $106,662,417.60. This represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.30% of the stock is owned by insiders.

Gen Digital Company Profile

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.