Prestige Wealth Management Group LLC Raises Stake in News Co. (NASDAQ:NWSA)

Prestige Wealth Management Group LLC grew its holdings in shares of News Co. (NASDAQ:NWSA) by 13.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,085 shares of the company’s stock after acquiring an additional 951 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in News were worth $223,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NWSA. Larson Financial Group LLC lifted its stake in News by 2,392.9% in the fourth quarter. Larson Financial Group LLC now owns 1,047 shares of the company’s stock worth $29,000 after purchasing an additional 1,005 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of News in the fourth quarter worth about $36,000. Brooklyn Investment Group bought a new stake in shares of News in the 3rd quarter valued at about $39,000. R Squared Ltd purchased a new stake in News during the 4th quarter valued at about $49,000. Finally, Smartleaf Asset Management LLC grew its position in News by 49.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,989 shares of the company’s stock worth $55,000 after acquiring an additional 660 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

News Trading Up 0.6 %

Shares of NWSA opened at $27.46 on Wednesday. News Co. has a 1-year low of $22.65 and a 1-year high of $30.69. The company has a current ratio of 1.73, a quick ratio of 1.65 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is $28.17 and its 200-day moving average price is $27.78. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of 37.62 and a beta of 1.34.

News (NASDAQ:NWSA) last posted its earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. News had a return on equity of 5.31% and a net margin of 4.22%. Sell-side analysts anticipate that News Co. will post 0.94 EPS for the current year.

News Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Wednesday, March 12th. News’s dividend payout ratio (DPR) is presently 27.40%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com raised News from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. UBS Group raised shares of News from a “neutral” rating to a “buy” rating in a report on Tuesday, February 4th. Citigroup assumed coverage on shares of News in a research note on Friday, January 10th. They set a “buy” rating and a $36.00 price objective for the company. Guggenheim raised their target price on News from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Seaport Res Ptn raised News to a “strong-buy” rating in a research report on Friday, January 31st. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $39.25.

About News

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