Wealth Enhancement Advisory Services LLC Has $1.46 Million Stock Holdings in Gen Digital Inc. (NASDAQ:GEN)

Wealth Enhancement Advisory Services LLC raised its stake in Gen Digital Inc. (NASDAQ:GEN) by 11.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,958 shares of the company’s stock after acquiring an additional 5,797 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Gen Digital were worth $1,459,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Gen Digital by 98.8% in the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company’s stock valued at $3,140,000 after purchasing an additional 56,993 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Gen Digital during the 1st quarter worth $273,000. SG Americas Securities LLC raised its holdings in shares of Gen Digital by 149.4% during the 1st quarter. SG Americas Securities LLC now owns 39,119 shares of the company’s stock worth $1,038,000 after buying an additional 23,433 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Gen Digital by 2,954.9% during the 1st quarter. GAMMA Investing LLC now owns 322,169 shares of the company’s stock worth $8,550,000 after buying an additional 311,623 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Gen Digital by 23.4% during the 1st quarter. Fifth Third Bancorp now owns 12,453 shares of the company’s stock worth $331,000 after buying an additional 2,364 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GEN shares. Morgan Stanley lowered their price target on Gen Digital from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Royal Bank Of Canada boosted their price target on Gen Digital from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 7th. Finally, Wall Street Zen raised Gen Digital from a “buy” rating to a “strong-buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Gen Digital presently has a consensus rating of “Buy” and a consensus target price of $27.50.

Insiders Place Their Bets

In related news, Director Nora Denzel sold 31,646 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.76, for a total transaction of $910,138.96. Following the sale, the director owned 34,860 shares in the company, valued at $1,002,573.60. The trade was a 47.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.20% of the stock is owned by corporate insiders.

Gen Digital Trading Up 0.4%

Shares of GEN stock opened at $29.40 on Tuesday. The firm has a market capitalization of $18.23 billion, a P/E ratio of 28.27, a P/E/G ratio of 1.09 and a beta of 1.01. Gen Digital Inc. has a twelve month low of $22.74 and a twelve month high of $31.72. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. The stock’s fifty day simple moving average is $28.10 and its 200 day simple moving average is $27.37.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.48 million. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. Gen Digital’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, sell-side analysts predict that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were given a dividend of $0.125 per share. The ex-dividend date was Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a yield of 1.70%. Gen Digital’s dividend payout ratio is currently 48.08%.

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.