Elo Mutual Pension Insurance Co Has $1.22 Million Position in News Co. (NASDAQ:NWSA)

Elo Mutual Pension Insurance Co lifted its stake in News Co. (NASDAQ:NWSA) by 31.4% during the fourth quarter, HoldingsChannel reports. The fund owned 44,204 shares of the company’s stock after purchasing an additional 10,557 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in News were worth $1,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC raised its stake in shares of News by 124.0% during the 3rd quarter. Barclays PLC now owns 14,713,823 shares of the company’s stock worth $391,832,000 after purchasing an additional 8,144,856 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in News by 26.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,283 shares of the company’s stock worth $4,801,000 after buying an additional 37,702 shares during the last quarter. FMR LLC raised its position in News by 381.5% during the third quarter. FMR LLC now owns 192,936 shares of the company’s stock valued at $5,138,000 after acquiring an additional 152,864 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in News by 30.3% in the third quarter. JPMorgan Chase & Co. now owns 1,458,869 shares of the company’s stock valued at $38,850,000 after acquiring an additional 338,958 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in News by 108.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,642 shares of the company’s stock worth $5,743,000 after acquiring an additional 111,987 shares in the last quarter. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

News Price Performance

Shares of NASDAQ:NWSA opened at $26.59 on Monday. The company has a market cap of $15.09 billion, a price-to-earnings ratio of 36.43 and a beta of 1.34. The business has a 50 day moving average price of $28.14 and a 200 day moving average price of $27.80. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. News Co. has a twelve month low of $22.65 and a twelve month high of $30.69.

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, topping the consensus estimate of $0.29 by $0.04. News had a net margin of 4.22% and a return on equity of 5.31%. Research analysts predict that News Co. will post 0.94 earnings per share for the current year.

News Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 12th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, March 12th. News’s payout ratio is presently 27.40%.

Analysts Set New Price Targets

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

News 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.