News Corporation (NASDAQ:NWS) Shares Bought by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its stake in News Corporation by 24.2%, owning 47,871 shares valued at approximately $1.45 million after acquiring additional shares in the first quarter.
• News Corporation reported a quarterly revenue of $2.11 billion, exceeding analyst expectations of $2.09 billion, and announced a semi-annual dividend of $0.10 per share, to be paid on October 8th.
• The company has a current market cap of $18.65 billion, a PE ratio of 15.84, and its stock has a twelve-month trading range of $26.25 to $35.58.

PNC Financial Services Group Inc. raised its stake in News Corporation (NASDAQ:NWS - Free Report) by 24.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,871 shares of the company's stock after acquiring an additional 9,314 shares during the period. PNC Financial Services Group Inc.'s holdings in News were worth $1,454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NWS. Cetera Investment Advisers raised its holdings in shares of News by 22.5% during the fourth quarter. Cetera Investment Advisers now owns 37,171 shares of the company's stock valued at $1,131,000 after buying an additional 6,821 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of News by 1.0% during the first quarter. Rhumbline Advisers now owns 205,729 shares of the company's stock valued at $6,248,000 after buying an additional 2,072 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of News during the first quarter valued at approximately $377,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of News by 8.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,468 shares of the company's stock valued at $409,000 after buying an additional 1,024 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of News by 20.3% during the first quarter. Asset Management One Co. Ltd. now owns 3,210 shares of the company's stock valued at $97,000 after buying an additional 542 shares during the last quarter. 14.63% of the stock is currently owned by institutional investors and hedge funds.

News Stock Performance

NWS opened at $32.95 on Friday. The business's 50 day moving average is $33.35 and its 200-day moving average is $32.22. The stock has a market cap of $18.65 billion, a PE ratio of 15.84 and a beta of 1.23. The company has a current ratio of 1.84, a quick ratio of 1.60 and a debt-to-equity ratio of 0.21. News Corporation has a twelve month low of $26.25 and a twelve month high of $35.58.

News (NASDAQ:NWS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. 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. On average, analysts predict that News Corporation will post 1.03 earnings per share for the current year.

News Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a yield of 60.0%. News's payout ratio is presently 9.62%.

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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