Russell Investments Group Ltd. Buys 5,836 Shares of News Co. (NASDAQ:NWSA)

Russell Investments Group Ltd. increased its position in News Co. (NASDAQ:NWSA) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 458,150 shares of the company’s stock after acquiring an additional 5,836 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of News worth $12,617,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Barclays PLC grew its position in shares of News by 124.0% during the 3rd quarter. Barclays PLC now owns 14,713,823 shares of the company’s stock valued at $391,832,000 after purchasing an additional 8,144,856 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in News by 30.3% during the third quarter. JPMorgan Chase & Co. now owns 1,458,869 shares of the company’s stock valued at $38,850,000 after buying an additional 338,958 shares during the period. FMR LLC grew its position in News by 381.5% during the third quarter. FMR LLC now owns 192,936 shares of the company’s stock worth $5,138,000 after buying an additional 152,864 shares in the last quarter. Miracle Mile Advisors LLC bought a new position in News in the 4th quarter worth about $374,000. Finally, Principal Financial Group Inc. raised its holdings in shares of News by 2.9% in the 3rd quarter. Principal Financial Group Inc. now owns 435,388 shares of the company’s stock valued at $11,594,000 after acquiring an additional 12,345 shares in the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Price Performance

Shares of News stock opened at $25.59 on Friday. The stock has a market capitalization of $14.52 billion, a price-to-earnings ratio of 35.06 and a beta of 1.24. The company has a fifty day moving average of $27.61 and a 200-day moving average of $27.72. News Co. has a 52-week low of $22.65 and a 52-week high of $30.69. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 1.73.

News (NASDAQ:NWSA) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that News Co. will post 0.94 EPS for the current year.

News Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th were given a $0.10 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.40 annualized dividend and a yield of 1.56%. News’s payout ratio is currently 27.40%.

Analysts Set New Price Targets

Several research analysts recently weighed in on NWSA shares. UBS Group upgraded shares of News from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 4th. Loop Capital decreased their price target on shares of News from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Guggenheim lifted their price objective on shares of News from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Seaport Res Ptn raised News to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Citigroup initiated coverage on News in a research note on Friday, January 10th. They set a “buy” rating and a $36.00 price target for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $39.25.

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