Fifth Third Bancorp Increases Holdings in News Corporation $NWS

Fifth Third Bancorp increased its stake in shares of News Corporation (NASDAQ:NWS) by 3.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,805 shares of the company’s stock after buying an additional 302 shares during the quarter. Fifth Third Bancorp’s holdings in News were worth $302,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC purchased a new position in News during the first quarter worth approximately $27,000. First Horizon Advisors Inc. raised its position in News by 3,546.2% in the first quarter. First Horizon Advisors Inc. now owns 948 shares of the company’s stock valued at $29,000 after purchasing an additional 922 shares during the period. Resona Asset Management Co. Ltd. raised its position in News by 75.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 964 shares of the company’s stock valued at $29,000 after purchasing an additional 414 shares during the period. Caitong International Asset Management Co. Ltd raised its position in News by 150.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,925 shares of the company’s stock valued at $58,000 after purchasing an additional 1,156 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in News by 20.3% in the first quarter. Asset Management One Co. Ltd. now owns 3,210 shares of the company’s stock valued at $97,000 after purchasing an additional 542 shares during the period. Hedge funds and other institutional investors own 14.63% of the company’s stock.

News Stock Up 0.3%

News stock opened at $34.55 on Wednesday. News Corporation has a fifty-two week low of $26.25 and a fifty-two week high of $35.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84. The company has a market capitalization of $19.52 billion, a P/E ratio of 16.61 and a beta of 1.18. The stock has a 50-day simple moving average of $33.62 and a 200-day simple moving average of $32.52.

News (NASDAQ:NWS) last posted its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%. Equities research analysts expect that News Corporation will post 1.03 earnings per share for the current year.

News Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a yield of 63.0%. News’s dividend payout ratio is currently 9.62%.

Analyst Ratings Changes

Separately, Zacks Research upgraded News to a “strong sell” rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

About News

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.