News Corporation $NWSA Shares Newly Bought by Parcion Private Wealth LLC

Parcion Private Wealth LLC bought a new position in News Corporation (NASDAQ:NWSA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,019 shares of the company’s stock, valued at approximately $574,000.

A number of other large investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. purchased a new stake in shares of News during the 3rd quarter valued at about $79,840,000. Bank of America Corp DE grew its position in News by 80.9% during the first quarter. Bank of America Corp DE now owns 4,069,041 shares of the company’s stock valued at $101,441,000 after buying an additional 1,819,652 shares during the period. Sei Investments Co. grew its position in News by 120.6% during the first quarter. Sei Investments Co. now owns 2,326,616 shares of the company’s stock valued at $58,002,000 after buying an additional 1,272,083 shares during the period. Quantinno Capital Management LP increased its holdings in News by 174.3% during the first quarter. Quantinno Capital Management LP now owns 1,911,329 shares of the company’s stock valued at $47,649,000 after buying an additional 1,214,648 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in News by 331.0% during the second quarter. Assenagon Asset Management S.A. now owns 730,471 shares of the company’s stock valued at $18,138,000 after buying an additional 561,005 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of News from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Wall Street Zen lowered News from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 24th. Morgan Stanley restated an “overweight” rating and issued a $35.00 price objective on shares of News in a research note on Thursday, August 6th. Weiss Ratings upgraded News from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 12th. Finally, Raymond James Financial started coverage on News in a report on Monday, October 19th. They set an “outperform” rating and a $35.00 price target for the company. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

News Price Performance

NASDAQ NWSA opened at $29.12 on Monday. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.66. The stock has a market cap of $15.76 billion, a price-to-earnings ratio of 28.27 and a beta of 0.97. The company’s 50 day moving average is $29.80 and its two-hundred day moving average is $26.91.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.14. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. As a group, research analysts anticipate that News Corporation will post 1.30 earnings per share for the current year.

News Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a yield of 68.0%. News’s dividend payout ratio is currently 19.42%.

News Profile

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.