Nisa Investment Advisors LLC lowered its position in shares of News Corp (NASDAQ:NWSA) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,264 shares of the company’s stock after selling 8,000 shares during the period. Nisa Investment Advisors LLC’s holdings in News were worth $3,174,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in News by 7.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,527 shares of the company’s stock valued at $280,000 after acquiring an additional 1,512 shares during the last quarter. Advisor Group Inc. boosted its position in News by 83.2% in the 4th quarter. Advisor Group Inc. now owns 3,355 shares of the company’s stock valued at $38,000 after buying an additional 1,524 shares during the period. Shell Asset Management Co. boosted its position in News by 8.4% in the 1st quarter. Shell Asset Management Co. now owns 20,737 shares of the company’s stock valued at $258,000 after buying an additional 1,604 shares during the period. State of Alaska Department of Revenue boosted its position in News by 2.1% in the 1st quarter. State of Alaska Department of Revenue now owns 84,776 shares of the company’s stock valued at $1,053,000 after buying an additional 1,707 shares during the period. Finally, TD Asset Management Inc. boosted its position in News by 1.6% in the 1st quarter. TD Asset Management Inc. now owns 114,217 shares of the company’s stock valued at $1,421,000 after buying an additional 1,779 shares during the period. 61.32% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on NWSA. BidaskClub cut shares of News from a “hold” rating to a “sell” rating in a research report on Saturday, July 6th. ValuEngine raised shares of News from a “sell” rating to a “hold” rating in a research report on Monday, June 17th. Credit Suisse Group upgraded shares of News from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $13.70 to $15.30 in a research note on Sunday, August 11th. Finally, JPMorgan Chase & Co. downgraded shares of News from a “neutral” rating to an “underweight” rating in a report on Thursday, July 18th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.45.
News (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. News had a net margin of 1.54% and a return on equity of 2.59%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company posted $0.08 EPS. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities research analysts predict that News Corp will post 0.4 EPS for the current fiscal year.
The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, September 11th will be given a $0.10 dividend. The ex-dividend date is Tuesday, September 10th. News’s dividend payout ratio is presently 43.48%.
News Company Profile
News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.
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