Allianz SE Acquires Shares of 13,667 News Corporation (NASDAQ:NWSA)

Key Points

• Allianz SE has acquired 13,667 shares of News Corporation (NASDAQ:NWSA), valued at approximately $372,000, according to its recent SEC filing.
• Several institutional investors, including Signaturefd LLC and Franklin Resources Inc., have also increased their stakes in News Corporation, with institutional investors now owning 66.97% of the company's stock.
• News Corporation's stock recently opened at $29.09 and reported a miss on quarterly earnings, with earnings per share of $0.17, below the consensus estimate of $0.19.

Allianz SE acquired a new stake in News Corporation (NASDAQ:NWSA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,667 shares of the company's stock, valued at approximately $372,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NWSA. Signaturefd LLC raised its position in News by 3.5% in the first quarter. Signaturefd LLC now owns 11,833 shares of the company's stock valued at $322,000 after purchasing an additional 398 shares during the last quarter. Franklin Resources Inc. grew its stake in News by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 21,962 shares of the company's stock worth $605,000 after purchasing an additional 418 shares during the period. Boyar Asset Management Inc. increased its stake in shares of News by 2.9% in the 4th quarter. Boyar Asset Management Inc. now owns 15,203 shares of the company's stock valued at $419,000 after acquiring an additional 422 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC raised its holdings in shares of News by 5.0% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 12,103 shares of the company's stock valued at $333,000 after purchasing an additional 574 shares during the period. Finally, Mather Group LLC. grew its stake in News by 10.4% in the first quarter. Mather Group LLC. now owns 6,465 shares of the company's stock valued at $176,000 after acquiring an additional 610 shares during the period. Institutional investors own 66.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered News from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Guggenheim reissued a "buy" rating and issued a $45.00 target price on shares of News in a research report on Thursday, May 15th. Finally, Morgan Stanley cut their price objective on shares of News from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $39.20.

News Stock Down 0.8%

Shares of News stock opened at $29.09 on Monday. The company has a 50-day simple moving average of $28.87 and a two-hundred day simple moving average of $28.01. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.60 and a current ratio of 1.68. News Corporation has a 52-week low of $23.38 and a 52-week high of $30.75. The stock has a market capitalization of $16.47 billion, a PE ratio of 33.83 and a beta of 1.23.

News (NASDAQ:NWSA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). News had a return on equity of 5.64% and a net margin of 5.18%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the business posted $0.13 earnings per share. The firm's revenue was up .8% on a year-over-year basis. On average, analysts anticipate that News Corporation will post 0.94 EPS for the current fiscal year.

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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