Board of the Pension Protection Fund Takes $1.55 Million Position in News Corporation $NWSA

Key Points

• The Board of the Pension Protection Fund acquired a new stake in News Corporation (NASDAQ:NWSA), purchasing 52,000 shares valued at approximately $1.55 million, making it 16th in the fund's investment portfolio.
• News Corporation declared a half-year dividend of $0.10 per share, with a yield of 70.0% and a dividend payout ratio of 9.62%.
• Analysts have issued a consensus price target of $38.62 for News Corporation, with one having a "Strong Buy" rating and others issuing "Buy" and "Hold" ratings.

Board of the Pension Protection Fund acquired a new stake in shares of News Corporation (NASDAQ:NWSA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 52,000 shares of the company's stock, valued at approximately $1,545,000. News comprises approximately 1.7% of Board of the Pension Protection Fund's investment portfolio, making the stock its 16th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC boosted its stake in shares of News by 9.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 49,174 shares of the company's stock worth $1,462,000 after buying an additional 4,103 shares during the last quarter. waypoint wealth counsel purchased a new position in shares of News in the 2nd quarter worth $233,000. Aberdeen Group plc boosted its stake in shares of News by 3.8% in the 2nd quarter. Aberdeen Group plc now owns 330,705 shares of the company's stock worth $9,829,000 after buying an additional 12,222 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of News by 23.9% in the 2nd quarter. IFP Advisors Inc now owns 6,646 shares of the company's stock worth $198,000 after buying an additional 1,282 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of News by 12.6% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 250,995 shares of the company's stock worth $7,460,000 after buying an additional 28,000 shares during the last quarter. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

News Price Performance

Shares of News stock opened at $25.78 on Friday. News Corporation has a one year low of $23.38 and a one year high of $31.61. The stock's fifty day moving average is $29.36 and its 200 day moving average is $28.42. The stock has a market cap of $14.56 billion, a P/E ratio of 12.39 and a beta of 1.17. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84.

News (NASDAQ:NWSA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates of $0.19. News had a return on equity of 5.66% and a net margin of 13.21%.The company had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same period last year, the firm earned $0.17 EPS. News's revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts anticipate that News Corporation will post 0.94 earnings per share for the current year.

News Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NWSA shares. Weiss Ratings restated a "buy (b)" rating on shares of News in a research note on Wednesday. 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 note on Wednesday, August 20th. Finally, Macquarie reaffirmed a "neutral" rating and issued a $32.70 target price on shares of News in a 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. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $38.62.

News Profile

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.

Want to see what other hedge funds are holding NWSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for News Corporation (NASDAQ:NWSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.