New York State Teachers Retirement System Has $13.63 Million Holdings in Gen Digital Inc. (NASDAQ:GEN)

New York State Teachers Retirement System lessened its stake in shares of Gen Digital Inc. (NASDAQ:GEN) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 513,575 shares of the company’s stock after selling 18,704 shares during the quarter. New York State Teachers Retirement System’s holdings in Gen Digital were worth $13,630,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. KBC Group NV lifted its position in Gen Digital by 32.7% during the 1st quarter. KBC Group NV now owns 2,769,361 shares of the company’s stock worth $73,499,000 after acquiring an additional 682,530 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Gen Digital in the fourth quarter worth about $14,367,000. Achmea Investment Management B.V. lifted its position in shares of Gen Digital by 40.2% during the 1st quarter. Achmea Investment Management B.V. now owns 1,454,610 shares of the company’s stock worth $38,605,000 after purchasing an additional 417,206 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Gen Digital by 132.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company’s stock worth $16,039,000 after purchasing an additional 341,533 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Gen Digital by 132.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 564,391 shares of the company’s stock valued at $14,979,000 after purchasing an additional 321,186 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Transactions at Gen Digital

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.76, for a total transaction of $910,138.96. Following the completion of the transaction, the director 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 document filed with the Securities & Exchange Commission, which is available at this link. 12.20% of the stock is owned by company insiders.

Gen Digital Trading Up 2.2%

Gen Digital stock opened at $30.48 on Friday. The business has a 50 day moving average price of $28.42 and a two-hundred day moving average price of $27.41. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $31.72. The stock has a market cap of $18.90 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings results 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. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $999.48 million. During the same quarter in the previous year, the company earned $0.53 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Evercore ISI assumed coverage on Gen Digital in a research report on Tuesday. They issued an “outperform” rating and a $35.00 price target on the stock. Wall Street Zen upgraded shares of Gen Digital from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 27th. Royal Bank Of Canada boosted 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. Finally, Morgan Stanley reduced 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 report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Gen Digital presently has an average rating of “Buy” and a consensus target price of $30.00.

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.