iA Global Asset Management Inc. Sells 4,261 Shares of Fox Co. (NASDAQ:FOX)

iA Global Asset Management Inc. lessened its stake in Fox Co. (NASDAQ:FOX) by 50.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,125 shares of the company’s stock after selling 4,261 shares during the period. iA Global Asset Management Inc.’s holdings in FOX were worth $132,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FOX. Norges Bank bought a new stake in FOX in the 4th quarter worth approximately $70,598,000. Assenagon Asset Management S.A. bought a new stake in shares of FOX during the 2nd quarter valued at $65,709,000. Bank of Nova Scotia increased its stake in shares of FOX by 315.5% in the 4th quarter. Bank of Nova Scotia now owns 1,052,781 shares of the company’s stock worth $29,108,000 after purchasing an additional 799,383 shares in the last quarter. National Bank of Canada FI increased its stake in shares of FOX by 315.0% in the 4th quarter. National Bank of Canada FI now owns 917,745 shares of the company’s stock worth $25,825,000 after purchasing an additional 696,610 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in FOX by 93.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 945,930 shares of the company’s stock worth $26,155,000 after purchasing an additional 456,546 shares during the period. Institutional investors own 26.41% of the company’s stock.

Insider Activity

In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the transaction, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The disclosure for this sale can be found here. Company insiders own 19.21% of the company’s stock.

Analyst Ratings Changes

Separately, Seaport Res Ptn raised FOX from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 9th.

FOX Trading Up 0.5 %

Shares of NASDAQ:FOX opened at $38.43 on Friday. Fox Co. has a 12-month low of $25.82 and a 12-month high of $38.48. The company has a market cap of $17.94 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 5.71 and a beta of 0.82. The stock has a 50 day moving average of $34.95 and a 200 day moving average of $31.13. The company has a current ratio of 3.24, a quick ratio of 2.94 and a debt-to-equity ratio of 0.67.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. FOX had a net margin of 11.19% and a return on equity of 15.90%. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, equities research analysts expect that Fox Co. will post 3.32 EPS for the current year.

FOX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, September 4th. This is a boost from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 2.81%. FOX’s dividend payout ratio (DPR) is currently 16.93%.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional cable television systems, direct broadcast satellite operators, and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.