News Corporation $NWSA Stock Position Raised by Citigroup Inc.

Citigroup Inc. increased its position in News Corporation (NASDAQ:NWSA) by 42.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 540,948 shares of the company’s stock after purchasing an additional 161,180 shares during the period. Citigroup Inc. owned about 0.10% of News worth $16,613,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. CYBER HORNET ETFs LLC purchased a new position in shares of News during the second quarter valued at $30,000. Root Financial Partners LLC acquired a new position in News in the 3rd quarter valued at approximately $35,000. Rothschild Investment LLC lifted its position in News by 120.0% in the 3rd quarter. Rothschild Investment LLC now owns 1,749 shares of the company’s stock worth $54,000 after buying an additional 954 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of News by 87.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,396 shares of the company’s stock valued at $74,000 after buying an additional 1,121 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of News by 160.1% during the 2nd quarter. Allworth Financial LP now owns 3,361 shares of the company’s stock valued at $100,000 after acquiring an additional 2,069 shares in the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NWSA. JPMorgan Chase & Co. reduced their price target on News from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday, November 25th. Citigroup reduced their target price on shares of News from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Guggenheim dropped their price target on shares of News from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Morgan Stanley set a $32.40 price target on shares of News in a report on Friday, February 6th. Finally, Weiss Ratings cut shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, News presently has a consensus rating of “Hold” and an average target price of $37.02.

News Trading Down 0.1%

NWSA stock opened at $24.29 on Friday. News Corporation has a 1-year low of $22.20 and a 1-year high of $31.61. The firm has a market cap of $13.49 billion, a P/E ratio of 11.97 and a beta of 0.99. The business’s 50 day moving average is $25.32 and its 200-day moving average is $26.80. The company has a current ratio of 1.81, a quick ratio of 1.69 and a debt-to-equity ratio of 0.20.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.07. News had a net margin of 13.35% and a return on equity of 5.94%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the business posted $0.33 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Equities analysts anticipate that News Corporation will post 0.94 earnings per share for the current fiscal year.

News Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 11th will be paid a $0.10 dividend. This represents a dividend yield of 83.0%. The ex-dividend date of this dividend is Wednesday, March 11th. News’s dividend payout ratio (DPR) is 9.85%.

News Company Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.