Truist Financial Corp Has $373,000 Position in News Corporation $NWS

Truist Financial Corp raised its position in shares of News Corporation (NASDAQ:NWS) by 16.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,869 shares of the company’s stock after purchasing an additional 1,565 shares during the quarter. Truist Financial Corp’s holdings in News were worth $373,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Independent Franchise Partners LLP grew its holdings in shares of News by 0.8% during the 1st quarter. Independent Franchise Partners LLP now owns 9,728,572 shares of the company’s stock valued at $295,457,000 after acquiring an additional 78,855 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of News by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 6,879,273 shares of the company’s stock valued at $208,924,000 after acquiring an additional 344,036 shares in the last quarter. Jefferies Financial Group Inc. grew its holdings in shares of News by 60.2% during the 1st quarter. Jefferies Financial Group Inc. now owns 356,975 shares of the company’s stock valued at $10,841,000 after acquiring an additional 134,148 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of News by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 307,560 shares of the company’s stock valued at $9,341,000 after acquiring an additional 5,285 shares in the last quarter. Finally, Cooper Investors PTY Ltd. grew its holdings in shares of News by 19.0% during the 2nd quarter. Cooper Investors PTY Ltd. now owns 280,286 shares of the company’s stock valued at $9,617,000 after acquiring an additional 44,685 shares in the last quarter. 14.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on NWS shares. Weiss Ratings restated a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, News currently has an average rating of “Buy”.

News Stock Down 1.5%

News stock opened at $29.48 on Friday. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 14.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. News Corporation has a fifty-two week low of $26.25 and a fifty-two week high of $35.58. The firm has a fifty day moving average price of $32.92 and a two-hundred day moving average price of $32.51.

News (NASDAQ:NWS) last released its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.09 billion. News had a net margin of 13.21% and a return on equity of 5.66%. As a group, analysts forecast that News Corporation will post 1.03 earnings per share for the current year.

News Announces Dividend

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

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.