Prudential Financial Inc. Buys 146,728 Shares of News Corp. (NWS)
Prudential Financial Inc. increased its stake in News Corp. (NASDAQ:NWS) by 59.6% during the second quarter, Holdings Channel reports. The firm owned 393,028 shares of the company’s stock after buying an additional 146,728 shares during the period. Prudential Financial Inc. owned approximately 0.07% of News Corp. worth $4,586,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the company. World Asset Management Inc boosted its position in News Corp. by 0.3% in the second quarter. World Asset Management Inc now owns 10,860 shares of the company’s stock valued at $127,000 after buying an additional 31 shares in the last quarter. Aviva PLC boosted its position in News Corp. by 0.6% in the first quarter. Aviva PLC now owns 54,134 shares of the company’s stock valued at $717,000 after buying an additional 303 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of News Corp. by 0.7% in the second quarter. Retirement Systems of Alabama now owns 54,959 shares of the company’s stock worth $641,000 after buying an additional 407 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of News Corp. by 0.5% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 91,480 shares of the company’s stock worth $1,067,000 after buying an additional 485 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its position in shares of News Corp. by 1.4% in the second quarter. State Treasurer State of Michigan now owns 37,400 shares of the company’s stock worth $436,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 10.56% of the company’s stock.
News Corp. (NASDAQ:NWS) opened at 13.75 on Friday. The stock’s 50 day moving average price is $14.28 and its 200-day moving average price is $13.14. The stock has a market cap of $7.98 billion, a PE ratio of 45.08 and a beta of 1.90. News Corp. has a 12 month low of $10.74 and a 12 month high of $15.74.
The business also recently disclosed a dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, September 14th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 12th. News Corp.’s dividend payout ratio (DPR) is presently 66.67%.
Separately, TheStreet raised News Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $18.00.
In related news, CFO Bedi Ajay Singh sold 29,857 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $14.39, for a total transaction of $429,642.23. Following the completion of the transaction, the chief financial officer now owns 33,667 shares of the company’s stock, valued at approximately $484,468.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 39.40% of the company’s stock.
About News Corp.
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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