United Services Automobile Association cut its stake in News Corp (NASDAQ:NWSA) by 21.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 240,478 shares of the company’s stock after selling 66,112 shares during the period. United Services Automobile Association’s holdings in News were worth $2,729,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Bridge LLC acquired a new position in shares of News during the fourth quarter valued at about $37,000. Advisor Group Inc. increased its holdings in News by 83.2% in the 4th quarter. Advisor Group Inc. now owns 3,355 shares of the company’s stock worth $38,000 after buying an additional 1,524 shares during the period. Enlightenment Research LLC acquired a new position in News in the 4th quarter worth approximately $56,000. Signition LP increased its holdings in News by 11.9% in the 4th quarter. Signition LP now owns 13,575 shares of the company’s stock worth $154,000 after buying an additional 1,448 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in News by 7.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 13,900 shares of the company’s stock worth $158,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 62.30% of the company’s stock.
Shares of NASDAQ:NWSA opened at $12.63 on Monday. News Corp has a 1 year low of $10.65 and a 1 year high of $16.65. The company has a market cap of $7.39 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 3.58 and a beta of 1.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.09 and a current ratio of 1.19.
News (NASDAQ:NWSA) last announced its earnings results on Thursday, February 7th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.62 billion. News had a positive return on equity of 2.70% and a negative net margin of 13.11%. The business’s revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. Sell-side analysts expect that News Corp will post 0.38 EPS for the current fiscal year.
The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Wednesday, March 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 12th. This represents a yield of 1.61%. News’s payout ratio is currently 45.45%.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of News from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective on the stock in a research note on Wednesday, January 2nd. ValuEngine lowered News from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. UBS Group upgraded News from a “neutral” rating to a “buy” rating in a research report on Thursday, January 17th. Finally, Citigroup upgraded News from a “neutral” rating to a “buy” rating in a research report on Monday, January 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $14.17.
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News Company Profile
News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.
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