Conning Inc. Invests $118,000 in News Corp. (NWSA)
Conning Inc. purchased a new stake in shares of News Corp. (NASDAQ:NWSA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,385 shares of the company’s stock, valued at approximately $118,000.
Other large investors have also made changes to their positions in the company. IBM Retirement Fund increased its stake in shares of News Corp. by 0.6% in the second quarter. IBM Retirement Fund now owns 50,403 shares of the company’s stock valued at $572,000 after buying an additional 277 shares in the last quarter. Aviva PLC boosted its position in News Corp. by 0.6% in the first quarter. Aviva PLC now owns 224,044 shares of the company’s stock valued at $2,861,000 after buying an additional 1,441 shares during the last quarter. State of Alaska Department of Revenue boosted its position in News Corp. by 2.6% in the second quarter. State of Alaska Department of Revenue now owns 61,930 shares of the company’s stock valued at $702,000 after buying an additional 1,590 shares during the last quarter. Ruffer LLP boosted its position in News Corp. by 1.3% in the first quarter. Ruffer LLP now owns 200,252 shares of the company’s stock valued at $2,556,000 after buying an additional 2,566 shares during the last quarter. Finally, Fairpointe Capital LLC boosted its position in News Corp. by 3.0% in the first quarter. Fairpointe Capital LLC now owns 92,900 shares of the company’s stock valued at $1,186,000 after buying an additional 2,700 shares during the last quarter. 95.59% of the stock is owned by institutional investors and hedge funds.
Shares of News Corp. (NASDAQ:NWSA) traded down 2.82% on Friday, hitting $14.11. The company had a trading volume of 3,453,701 shares. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 46.26 and a beta of 2.01. News Corp. has a 1-year low of $10.21 and a 1-year high of $15.68. The company has a 50 day moving average price of $13.93 and a 200 day moving average price of $12.69.
News Corp. (NASDAQ:NWSA) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.03. News Corp. had a return on equity of 1.95% and a net margin of 2.16%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the company posted $0.07 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that News Corp. will post $0.46 earnings per share for the current fiscal year.
The business also recently declared a dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, September 14th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, September 12th. News Corp.’s dividend payout ratio (DPR) is currently 66.67%.
Several research analysts have weighed in on the company. Zacks Investment Research cut News Corp. from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. Morgan Stanley reiterated a “hold” rating on shares of News Corp. in a research report on Thursday, August 18th. Finally, TheStreet upgraded News Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.13.
In other News Corp. news, CFO Bedi Ajay Singh sold 29,857 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $14.39, for a total value of $429,642.23. Following the transaction, the chief financial officer now owns 33,667 shares of the company’s stock, valued at $484,468.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.88% of the company’s stock.
News Corp. Company Profile
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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