ING Groep NV Buys 37,995 Shares of Fox Corporation (NASDAQ:FOX)

Key Points

• ING Groep NV increased its stake in Fox Corporation by 4.7%, owning a total of 838,145 shares after purchasing 37,995 shares in the first quarter.
• Fox Corporation reported $1.10 earnings per share for the quarter, exceeding expectations of $0.96 and showing revenue of $4.37 billion.
• Insider trading activity includes CFO Steven Tomsic selling 5,607 shares at an average price of $55.37, reducing his stake by 4.02%.

ING Groep NV increased its stake in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 838,145 shares of the company's stock after buying an additional 37,995 shares during the period. ING Groep NV owned 0.18% of FOX worth $44,179,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FOX. Federated Hermes Inc. raised its stake in FOX by 66.2% during the 1st quarter. Federated Hermes Inc. now owns 580 shares of the company's stock worth $31,000 after buying an additional 231 shares during the period. PNC Financial Services Group Inc. increased its position in shares of FOX by 0.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 34,898 shares of the company's stock worth $1,839,000 after purchasing an additional 266 shares during the last quarter. CWM LLC lifted its stake in FOX by 16.6% in the first quarter. CWM LLC now owns 1,892 shares of the company's stock valued at $100,000 after acquiring an additional 270 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in FOX by 2.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 10,040 shares of the company's stock valued at $529,000 after buying an additional 270 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of FOX by 7.5% in the first quarter. Fifth Third Bancorp now owns 4,398 shares of the company's stock valued at $232,000 after purchasing an additional 307 shares during the period. Institutional investors own 26.41% of the company's stock.

Insiders Place Their Bets

In related news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the sale, the chief financial officer directly owned 133,923 shares of the company's stock, valued at approximately $7,415,316.51. The trade was a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.06% of the stock is owned by company insiders.

FOX Stock Down 0.8%

FOX stock opened at $50.73 on Monday. Fox Corporation has a fifty-two week low of $33.72 and a fifty-two week high of $55.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.45 and a quick ratio of 2.33. The business's fifty day moving average price is $50.90 and its two-hundred day moving average price is $49.65. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.14 and a beta of 0.58.

FOX (NASDAQ:FOX - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.14. FOX had a net margin of 11.58% and a return on equity of 17.99%. The business had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.19 billion. On average, equities analysts anticipate that Fox Corporation will post 4.25 earnings per share for the current year.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.

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