PNC Financial Services Group Inc. increased its holdings in News Co. (NASDAQ:NWSA) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,151 shares of the company’s stock after purchasing an additional 524 shares during the quarter. PNC Financial Services Group Inc.’s holdings in News were worth $698,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NWSA. Swiss National Bank grew its position in News by 6.4% during the second quarter. Swiss National Bank now owns 1,599,732 shares of the company’s stock valued at $41,225,000 after purchasing an additional 96,084 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in News by 140.2% in the first quarter. Schonfeld Strategic Advisors LLC now owns 625,887 shares of the company’s stock worth $15,916,000 after acquiring an additional 365,320 shares in the last quarter. AQR Capital Management LLC grew its position in News by 103.3% in the first quarter. AQR Capital Management LLC now owns 305,581 shares of the company’s stock worth $7,771,000 after acquiring an additional 155,241 shares in the last quarter. Trexquant Investment LP bought a new stake in News in the first quarter worth approximately $383,000. Finally, Natixis Advisors L.P. grew its position in News by 3.9% in the first quarter. Natixis Advisors L.P. now owns 23,860 shares of the company’s stock worth $606,000 after acquiring an additional 888 shares in the last quarter. Institutional investors and hedge funds own 64.20% of the company’s stock.
Shares of News stock opened at $22.01 on Wednesday. The firm has a market capitalization of $13.00 billion, a PE ratio of 39.30 and a beta of 1.52. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.30. The company’s fifty day moving average price is $23.64 and its two-hundred day moving average price is $25.25. News Co. has a 52-week low of $12.79 and a 52-week high of $27.97.
The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 13th. Shareholders of record on Wednesday, September 15th will be issued a $0.10 dividend. This represents a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 14th. News’s dividend payout ratio (DPR) is presently 29.85%.
NWSA has been the subject of several recent research reports. UBS Group raised shares of News from a “neutral” rating to a “buy” rating and set a $24.82 target price for the company in a research report on Monday, July 26th. Zacks Investment Research cut shares of News from a “buy” rating to a “hold” rating and set a $26.00 price objective for the company. in a research note on Friday, July 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, News has an average rating of “Buy” and a consensus price target of $27.16.
News Corp. engages in the creation and distribution of media, news, education, and information services. It operates through the following segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The News and Information Services segment consists of Dow Jones, News Corp Australia, News UK, the New York Post, and News America Marketing.
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