AIA Group Ltd Has $3.04 Million Stock Position in New Oriental Education & Technology Group, Inc. (NYSE:EDU)

Key Points

• AIA Group Ltd reduced its stake in New Oriental Education & Technology Group by 23.3% in the first quarter, now holding 63,663 shares valued at approximately $3.04 million.
• Several large investors have significantly increased their investments in New Oriental, with National Bank of Canada FI boosting its stake by an unprecedented 34,614,900%.
• Analysts have mixed ratings on the stock, with a consensus target price of $51.60, following recent upgrades and downgrades by firms including JPMorgan and Citigroup.

AIA Group Ltd lowered its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Free Report) by 23.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,663 shares of the company's stock after selling 19,370 shares during the quarter. AIA Group Ltd's holdings in New Oriental Education & Technology Group were worth $3,044,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. National Bank of Canada FI raised its stake in shares of New Oriental Education & Technology Group by 34,614,900.0% in the 1st quarter. National Bank of Canada FI now owns 692,300 shares of the company's stock valued at $33,099,000 after buying an additional 692,298 shares in the last quarter. Brilliance Asset Management Ltd. raised its stake in shares of New Oriental Education & Technology Group by 189.5% in the 1st quarter. Brilliance Asset Management Ltd. now owns 1,016,471 shares of the company's stock valued at $48,597,000 after buying an additional 665,403 shares in the last quarter. Green Court Capital Management Ltd raised its stake in shares of New Oriental Education & Technology Group by 196.9% in the 1st quarter. Green Court Capital Management Ltd now owns 978,446 shares of the company's stock valued at $46,780,000 after buying an additional 648,872 shares in the last quarter. Allianz SE acquired a new position in shares of New Oriental Education & Technology Group in the 1st quarter valued at $398,000. Finally, XTX Topco Ltd acquired a new position in shares of New Oriental Education & Technology Group in the 1st quarter valued at $1,440,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $58.00 to $50.00 in a report on Wednesday, August 6th. HSBC lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised shares of New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $48.00 to $62.00 in a report on Tuesday, June 24th. Citigroup raised shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $77.00 to $50.00 in a report on Friday, June 27th. Finally, Hsbc Global Res raised shares of New Oriental Education & Technology Group to a "hold" rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $51.60.

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU traded up $0.43 during mid-day trading on Friday, hitting $48.49. The company's stock had a trading volume of 1,337,049 shares, compared to its average volume of 1,807,785. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 21.55 and a beta of 0.25. New Oriental Education & Technology Group, Inc. has a one year low of $40.66 and a one year high of $87.26. The company's fifty day simple moving average is $48.87 and its 200-day simple moving average is $48.26.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.37. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. New Oriental Education & Technology Group had a net margin of 7.59% and a return on equity of 11.32%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS. On average, sell-side analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current year.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.