Arrowstreet Capital Limited Partnership Buys 4,115,676 Shares of Gen Digital Inc. $GEN

Arrowstreet Capital Limited Partnership lifted its stake in Gen Digital Inc. (NASDAQ:GEN) by 45.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,094,386 shares of the company’s stock after acquiring an additional 4,115,676 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 2.16% of Gen Digital worth $246,567,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in shares of Gen Digital during the fourth quarter worth approximately $27,000. TD Private Client Wealth LLC lifted its stake in Gen Digital by 65.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after purchasing an additional 611 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Gen Digital in the 2nd quarter valued at approximately $47,000. Geneos Wealth Management Inc. grew its position in Gen Digital by 221.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after acquiring an additional 1,183 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Gen Digital by 47.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,756 shares of the company’s stock worth $50,000 after buying an additional 568 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GEN shares. Argus upgraded Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Barclays raised their price target on Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $27.00 target price on shares of Gen Digital in a research note on Thursday, July 16th. Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Wall Street Zen lowered Gen Digital from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Gen Digital currently has a consensus rating of “Hold” and an average target price of $29.33.

Gen Digital Trading Up 3.1%

GEN opened at $25.84 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.07. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 16.35 and a beta of 1.21. Gen Digital Inc. has a 12 month low of $17.78 and a 12 month high of $32.22. The stock has a fifty day moving average price of $25.35 and a 200-day moving average price of $23.23.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. 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. As a group, equities research analysts anticipate that Gen Digital Inc. will post 2.61 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.9%. Gen Digital’s payout ratio is currently 31.65%.

Gen Digital 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.