News Co. (NASDAQ:NWSA) Position Boosted by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC raised its holdings in shares of News Co. (NASDAQ:NWSA) by 16.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,774 shares of the company’s stock after acquiring an additional 799 shares during the period. Prestige Wealth Management Group LLC’s holdings in News were worth $159,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. US Bancorp DE raised its stake in shares of News by 2.4% during the first quarter. US Bancorp DE now owns 18,406 shares of the company’s stock valued at $482,000 after purchasing an additional 424 shares in the last quarter. Empirical Finance LLC raised its position in shares of News by 3.5% during the 1st quarter. Empirical Finance LLC now owns 13,898 shares of the company’s stock worth $364,000 after buying an additional 465 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of News by 3.7% in the 2nd quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock worth $381,000 after acquiring an additional 496 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of News by 95.1% in the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after acquiring an additional 506 shares in the last quarter. Finally, CWM LLC increased its stake in shares of News by 7.8% during the second quarter. CWM LLC now owns 7,339 shares of the company’s stock valued at $202,000 after acquiring an additional 532 shares during the period. Institutional investors and hedge funds own 66.97% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their target price on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th.

News Price Performance

Shares of NWSA traded down $0.36 during mid-day trading on Friday, hitting $26.57. The company’s stock had a trading volume of 2,962,317 shares, compared to its average volume of 2,729,749. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.43 and a quick ratio of 1.33. The firm has a 50-day moving average price of $27.47 and a 200 day moving average price of $26.48. News Co. has a fifty-two week low of $19.25 and a fifty-two week high of $28.62. The stock has a market capitalization of $15.14 billion, a price-to-earnings ratio of 73.81 and a beta of 1.34.

News (NASDAQ:NWSA) last issued its earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. News had a return on equity of 4.51% and a net margin of 2.64%. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm posted $0.14 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, research analysts predict that News Co. will post 0.87 EPS for the current fiscal year.

News Announces Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a dividend yield of 0.7%. News’s dividend payout ratio is currently 55.56%.

News Profile

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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.