Chicago Partners Investment Group LLC Takes Position in Gen Digital Inc. (NASDAQ:GEN)

Chicago Partners Investment Group LLC purchased a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,375 shares of the company’s stock, valued at approximately $233,000.

Several other hedge funds have also modified their holdings of GEN. Vanguard Group Inc. raised its stake in shares of Gen Digital by 3.7% during the first quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company’s stock worth $1,849,593,000 after buying an additional 2,513,464 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of Gen Digital by 33.0% during the first quarter. Penserra Capital Management LLC now owns 2,972,160 shares of the company’s stock worth $78,880,000 after buying an additional 736,809 shares during the last quarter. KBC Group NV raised its stake in shares of Gen Digital by 32.7% during the first quarter. KBC Group NV now owns 2,769,361 shares of the company’s stock worth $73,499,000 after buying an additional 682,530 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Gen Digital during the fourth quarter worth approximately $14,367,000. Finally, Victory Capital Management Inc. raised its stake in shares of Gen Digital by 81.1% during the first quarter. Victory Capital Management Inc. now owns 1,006,843 shares of the company’s stock worth $26,722,000 after buying an additional 450,955 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on GEN. Morgan Stanley dropped their price target on shares of Gen Digital from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company boosted their price target on shares of Gen Digital from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. B. Riley assumed coverage on shares of Gen Digital in a research note on Monday, July 14th. They set a “buy” rating and a $46.00 price target for the company. Royal Bank Of Canada upped their target price on shares of Gen Digital from $32.00 to $33.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. Finally, Evercore ISI assumed coverage on shares of Gen Digital in a research note on Tuesday, July 1st. They issued an “outperform” rating and a $35.00 target price for the company. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Gen Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Insiders Place Their Bets

In related news, Director Nora Denzel sold 31,646 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the completion of the transaction, the director owned 34,860 shares of the company’s stock, valued at approximately $1,002,573.60. This trade represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.30% of the company’s stock.

Gen Digital Stock Up 3.5%

Shares of GEN stock opened at $31.85 on Wednesday. The firm has a fifty day moving average of $29.74 and a 200-day moving average of $27.88. The company has a quick ratio of 0.51, a current ratio of 0.50 and a debt-to-equity ratio of 3.63. Gen Digital Inc. has a 12-month low of $22.74 and a 12-month high of $31.88. The company has a market capitalization of $19.61 billion, a price-to-earnings ratio of 32.84, a P/E/G ratio of 1.03 and a beta of 1.00.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The firm’s revenue was up 30.3% compared to the same quarter last year. As a group, equities research analysts predict that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.6%. Gen Digital’s dividend payout ratio (DPR) is 51.55%.

About Gen Digital

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.