California Public Employees Retirement System Sells 96,687 Shares of Gen Digital Inc. $GEN

California Public Employees Retirement System lessened its stake in Gen Digital Inc. (NASDAQ:GEN) by 6.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,405,921 shares of the company’s stock after selling 96,687 shares during the period. California Public Employees Retirement System owned 0.23% of Gen Digital worth $26,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Gen Digital in the 4th quarter worth approximately $27,000. TD Private Client Wealth LLC raised its stake in shares of Gen Digital by 65.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after acquiring an additional 611 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in Gen Digital during the second quarter valued at approximately $47,000. Geneos Wealth Management Inc. lifted its position in Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after acquiring an additional 1,183 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Gen Digital by 47.8% in the third quarter. Brown Brothers Harriman & Co. now owns 1,756 shares of the company’s stock valued at $50,000 after acquiring an additional 568 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Gen Digital Stock Down 2.0%

Shares of GEN stock opened at $25.58 on Thursday. The stock’s 50-day simple moving average is $25.27 and its 200-day simple moving average is $23.22. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $15.41 billion, a PE ratio of 16.19 and a beta of 1.21. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $32.22.

Gen Digital (NASDAQ:GEN) last released its earnings results on Thursday, May 7th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The company’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Gen Digital has set its Q1 2027 guidance at 0.680-0.700 EPS and its FY 2027 guidance at 2.850-2.950 EPS. Equities analysts expect that Gen Digital Inc. will post 2.61 earnings per share for the current year.

Gen Digital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, May 18th. Gen Digital’s dividend payout ratio is 31.65%.

Analysts Set New Price Targets

Several brokerages have recently commented on GEN. Barclays increased their price objective on Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Royal Bank Of Canada restated a “sector perform” rating and set a $27.00 target price on shares of Gen Digital in a research note on Thursday, July 16th. Argus raised Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Jefferies Financial Group cut Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $29.33.

Insiders Place Their Bets

In other Gen Digital news, Director John C. Chrystal purchased 3,000 shares of the stock in a transaction on Thursday, June 4th. The shares were bought at an average cost of $27.06 per share, with a total value of $81,180.00. Following the completion of the acquisition, the director owned 31,419 shares in the company, valued at $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total value of $2,478,000.00. Following the sale, the director directly owned 3,832,724 shares in the company, valued at $94,974,900.72. This represents a 2.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 9.30% of the stock is owned by corporate insiders.

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.