Allianz Asset Management GmbH Sells 59,475 Shares of News Corporation $NWSA

Allianz Asset Management GmbH trimmed its position in News Corporation (NASDAQ:NWSA - Free Report) by 12.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 415,745 shares of the company's stock after selling 59,475 shares during the period. Allianz Asset Management GmbH owned about 0.07% of News worth $12,356,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NWSA. Caitong International Asset Management Co. Ltd boosted its position in News by 12,084.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company's stock valued at $43,000 after buying an additional 1,571 shares during the last quarter. SVB Wealth LLC bought a new position in News in the 1st quarter valued at $73,000. Horizon Investments LLC boosted its position in shares of News by 7.7% in the 1st quarter. Horizon Investments LLC now owns 5,575 shares of the company's stock worth $152,000 after purchasing an additional 398 shares during the last quarter. Mather Group LLC. boosted its position in shares of News by 10.4% in the 1st quarter. Mather Group LLC. now owns 6,465 shares of the company's stock worth $176,000 after purchasing an additional 610 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of News by 17.2% in the 2nd quarter. V Square Quantitative Management LLC now owns 6,207 shares of the company's stock worth $184,000 after purchasing an additional 912 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Weiss Ratings restated a "buy (b)" rating on shares of News in a research report on Wednesday, October 8th. Finally, Macquarie restated a "neutral" rating and issued a $32.70 price target on shares of News in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, News currently has a consensus rating of "Buy" and an average price target of $38.62.

News Stock Performance

Shares of News stock opened at $26.44 on Tuesday. The company has a market capitalization of $14.94 billion, a PE ratio of 12.71 and a beta of 1.17. News Corporation has a 12 month low of $23.38 and a 12 month high of $31.61. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. The stock's fifty day simple moving average is $29.03 and its 200 day simple moving average is $28.42.

News (NASDAQ:NWSA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%.The firm's revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. On average, research analysts predict that News Corporation will post 0.94 EPS for the current year.

News Announces Dividend

The firm also recently disclosed a half year 25 dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th were paid a dividend of $0.10 per share. This represents a yield of 70.0%. The ex-dividend date of this dividend was Wednesday, September 10th. News's dividend payout ratio (DPR) is presently 9.62%.

About News

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.

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