Gen Digital Inc. (NASDAQ:GEN) Shares Purchased by Amalgamated Bank

Amalgamated Bank increased its position in shares of Gen Digital Inc. (NASDAQ:GEN) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,451 shares of the company’s stock after acquiring an additional 951 shares during the quarter. Amalgamated Bank’s holdings in Gen Digital were worth $2,799,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its position in Gen Digital by 1.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 53,783 shares of the company’s stock worth $1,427,000 after acquiring an additional 882 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Gen Digital by 0.8% during the first quarter. Handelsbanken Fonder AB now owns 116,467 shares of the company’s stock worth $3,091,000 after acquiring an additional 915 shares during the last quarter. Everhart Financial Group Inc. boosted its position in Gen Digital by 7.1% during the first quarter. Everhart Financial Group Inc. now owns 14,807 shares of the company’s stock worth $393,000 after acquiring an additional 985 shares during the last quarter. Brighton Jones LLC boosted its position in Gen Digital by 4.4% during the first quarter. Brighton Jones LLC now owns 26,317 shares of the company’s stock worth $698,000 after acquiring an additional 1,105 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Gen Digital by 15.1% during the first quarter. GAMMA Investing LLC now owns 12,139 shares of the company’s stock worth $322,000 after acquiring an additional 1,593 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Gen Digital Stock Performance

Shares of GEN stock opened at $30.48 on Friday. The company’s fifty day simple moving average is $28.53 and its 200-day simple moving average is $27.42. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $31.72. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.51. The company has a market cap of $18.90 billion, a PE ratio of 29.31, a P/E/G ratio of 1.14 and a beta of 1.01.

Gen Digital (NASDAQ:GEN) last issued its earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $999.48 million. During the same quarter last year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 1.64%. Gen Digital’s dividend payout ratio is presently 48.08%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEN. Royal Bank Of Canada raised their target price on shares of Gen Digital from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. Morgan Stanley decreased their price target on shares of Gen Digital from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Evercore ISI assumed coverage on shares of Gen Digital in a report on Tuesday. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, Wall Street Zen lowered shares of Gen Digital from a “strong-buy” rating to a “buy” rating in a report on Saturday. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $30.00.

Insider Buying and Selling at Gen Digital

In other news, Director Nora Denzel sold 31,646 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $28.76, for a total transaction of $910,138.96. Following the completion of the sale, the director directly owned 34,860 shares in the company, valued at $1,002,573.60. This trade represents a 47.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.20% of the stock is owned by corporate insiders.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.