Principal Financial Group Inc. Cuts Stake in News Corporation (NASDAQ:NWS)

Principal Financial Group Inc. reduced its position in News Corporation (NASDAQ:NWS) by 0.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 134,135 shares of the company’s stock after selling 939 shares during the period. Principal Financial Group Inc.’s holdings in News were worth $4,074,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NWS. First Horizon Advisors Inc. lifted its position in News by 3,546.2% during the first quarter. First Horizon Advisors Inc. now owns 948 shares of the company’s stock valued at $29,000 after buying an additional 922 shares during the period. ExodusPoint Capital Management LP bought a new stake in News in the 4th quarter worth about $43,000. Mufg Securities Americas Inc. bought a new stake in News in the 4th quarter worth about $50,000. Harvest Fund Management Co. Ltd boosted its position in News by 2,892.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,065 shares of the company’s stock worth $61,000 after purchasing an additional 1,996 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new position in shares of News during the 4th quarter valued at about $91,000. 14.63% of the stock is currently owned by institutional investors.

News Stock Up 1.1%

NASDAQ NWS opened at $34.82 on Friday. The stock’s 50 day moving average is $33.05 and its 200 day moving average is $31.86. The company has a current ratio of 1.68, a quick ratio of 1.60 and a debt-to-equity ratio of 0.21. News Corporation has a 12 month low of $26.04 and a 12 month high of $35.41. The stock has a market cap of $19.71 billion, a PE ratio of 40.49 and a beta of 1.23.

News (NASDAQ:NWS) last issued its earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.05). News had a return on equity of 5.64% and a net margin of 5.18%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2 billion. Research analysts predict that News Corporation will post 1.03 EPS for the current fiscal year.

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.