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JPMorgan Chase & Co. Increases Position in News Corporation $NWS

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Key Points

  • JPMorgan Chase & Co. increased its position in News Corporation by 14.1% in Q3, adding 81,986 shares to hold 661,412 shares valued at about $22.85 million (roughly 0.12% of the company).
  • News Corp unveiled a US$1.0 billion U.S. share repurchase program (excludes ASX CDIs) and began daily buyback disclosures, a shareholder‑friendly step that can reduce float and support EPS.
  • The company beat quarterly EPS estimates ($0.40 vs. $0.25 consensus), reported roughly in‑line revenue, and declared a $0.10 per share dividend payable April 8 (record date March 11).
  • Five stocks to consider instead of News.

JPMorgan Chase & Co. increased its position in shares of News Corporation (NASDAQ:NWS - Free Report) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 661,412 shares of the company's stock after acquiring an additional 81,986 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.12% of News worth $22,852,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. NewEdge Advisors LLC acquired a new stake in shares of News during the second quarter worth $30,000. Smartleaf Asset Management LLC increased its stake in News by 97.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,178 shares of the company's stock valued at $41,000 after purchasing an additional 580 shares during the last quarter. Mufg Securities Americas Inc. lifted its position in News by 24.9% during the second quarter. Mufg Securities Americas Inc. now owns 2,470 shares of the company's stock worth $85,000 after buying an additional 493 shares during the period. Danske Bank A S purchased a new position in News during the third quarter worth about $97,000. Finally, EverSource Wealth Advisors LLC boosted its stake in News by 226.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,907 shares of the company's stock worth $100,000 after buying an additional 2,016 shares during the last quarter. 14.63% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting News

Here are the key news stories impacting News this week:

News Stock Performance

Shares of NASDAQ:NWS opened at $27.17 on Wednesday. The business has a 50-day moving average of $27.91 and a two-hundred day moving average of $29.58. The firm has a market capitalization of $15.09 billion, a PE ratio of 13.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.81 and a quick ratio of 1.69. News Corporation has a 12 month low of $25.49 and a 12 month high of $35.58.

News (NASDAQ:NWS - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.15. News had a return on equity of 5.94% and a net margin of 13.35%.The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, research analysts forecast that News Corporation will post 1.03 earnings per share for the current year.

News Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.10 per share. This represents a yield of 73.0%. The ex-dividend date of this dividend is Wednesday, March 11th. News's payout ratio is 9.85%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NWS. Zacks Research raised shares of News from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 11th. Weiss Ratings upgraded shares of News from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat.com, News currently has an average rating of "Strong Buy".

View Our Latest Report on News

News Profile

(Free Report)

News Corporation NASDAQ: NWS is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company's operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.

Read More

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

Institutional Ownership by Quarter for News (NASDAQ:NWS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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