News Corporation $NWSA Shares Newly Purchased by Asset Management One Co. Ltd.

Key Points

• Asset Management One acquired 155,925 News Corp shares worth approximately $4.47 million in the third quarter. Institutional investors collectively own 66.97% of the company.
• Analysts maintain a generally positive view, with six Buy ratings and one Hold rating, an overall “Moderate Buy” consensus, and an average price target of $37.80 versus the reported $29.12 share price.
• News Corp exceeded quarterly expectations, reporting $0.35 earnings per share and $2.34 billion in revenue, with revenue rising 10.8% year over year.

Asset Management One Co. Ltd. acquired a new position in shares of News Corporation (NASDAQ:NWSA - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 155,925 shares of the company's stock, valued at approximately $4,467,000.

Other hedge funds have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. purchased a new stake in shares of News during the third quarter worth about $79,840,000. Bank of America Corp DE lifted its stake in News by 80.9% in the first quarter. Bank of America Corp DE now owns 4,069,041 shares of the company's stock valued at $101,441,000 after buying an additional 1,819,652 shares during the last quarter. Sei Investments Co. boosted its stake in News by 120.6% in the 1st quarter. Sei Investments Co. now owns 2,326,616 shares of the company's stock worth $58,002,000 after purchasing an additional 1,272,083 shares during the period. Quantinno Capital Management LP grew its stake in News by 174.3% in the 1st quarter. Quantinno Capital Management LP now owns 1,911,329 shares of the company's stock valued at $47,649,000 after buying an additional 1,214,648 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in News by 331.0% during the second quarter. Assenagon Asset Management S.A. now owns 730,471 shares of the company's stock worth $18,138,000 after buying an additional 561,005 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NWSA shares. Morgan Stanley reaffirmed an "overweight" rating and set a $35.00 price target on shares of News in a report on Thursday, August 6th. Wall Street Zen lowered shares of News from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 24th. JPMorgan Chase & Co. lifted their price target on News from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Friday, August 21st. Zacks Research downgraded shares of News from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. Finally, Weiss Ratings upgraded News from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, October 12th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $37.80.

News Price Performance

Shares of NASDAQ:NWSA opened at $29.12 on Monday. The firm's 50 day moving average is $29.80 and its two-hundred day moving average is $26.91. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $15.76 billion, a P/E ratio of 28.27 and a beta of 0.97. News Corporation has a 52 week low of $22.20 and a 52 week high of $31.66.

News (NASDAQ:NWSA - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.14. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.25 billion. News had a return on equity of 7.09% and a net margin of 6.35%. News's revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 earnings per share. Analysts anticipate that News Corporation will post 1.30 earnings per share for the current year.

News Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 9th. This represents a dividend yield of 68.0%. News's dividend payout ratio is 19.42%.

News Company Profile

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron's; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.

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