Russell Investments Group Ltd. Sells 200,081 Shares of NetEase, Inc. $NTES

Key Points

• Russell Investments Group Ltd. reduced its stake in NetEase, Inc. by 63.2%, selling 200,081 shares and holding 116,689 shares worth approximately $12 million.
• Multiple institutional investors, including Mirae Asset Global Investments, reported significant increases in their stakes in NetEase, reflecting strong interest in the company.
• NetEase announced a quarterly dividend of $0.675 per share, providing a yield of 2.1%, with shareholders of record set to receive the payout on September 11th.

Russell Investments Group Ltd. decreased its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 63.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,689 shares of the technology company's stock after selling 200,081 shares during the period. Russell Investments Group Ltd.'s holdings in NetEase were worth $12,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of NetEase by 7,698.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after buying an additional 2,780,897 shares during the last quarter. Capital World Investors lifted its stake in shares of NetEase by 40.6% in the 4th quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock valued at $332,311,000 after purchasing an additional 1,074,818 shares during the period. Man Group plc boosted its position in shares of NetEase by 98.0% in the 4th quarter. Man Group plc now owns 708,268 shares of the technology company's stock worth $63,185,000 after purchasing an additional 350,578 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in shares of NetEase during the first quarter worth $28,765,000. Finally, Northern Trust Corp grew its stake in shares of NetEase by 138.5% during the fourth quarter. Northern Trust Corp now owns 430,653 shares of the technology company's stock worth $38,419,000 after purchasing an additional 250,111 shares during the period. 11.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NTES. Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 target price on the stock. JPMorgan Chase & Co. downgraded shares of NetEase from an "overweight" rating to a "neutral" rating and upped their target price for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Wall Street Zen lowered shares of NetEase from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Barclays upped their price objective on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $120.00.

NetEase Trading Down 0.3%

NTES stock opened at $129.22 on Monday. The stock has a 50-day moving average price of $132.01 and a two-hundred day moving average price of $115.05. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $141.45. The stock has a market cap of $81.87 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 4.48 and a beta of 0.67.

NetEase Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be paid a $0.675 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.70 annualized dividend and a yield of 2.1%. NetEase's payout ratio is presently 36.40%.

NetEase Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.

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