Envestnet Asset Management Inc. Purchases 25,744 Shares of News Corporation $NWS

Envestnet Asset Management Inc. raised its holdings in shares of News Corporation (NASDAQ:NWS) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,335 shares of the company’s stock after purchasing an additional 25,744 shares during the period. Envestnet Asset Management Inc.’s holdings in News were worth $9,236,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Royal Bank of Canada raised its position in shares of News by 25.8% in the 1st quarter. Royal Bank of Canada now owns 64,630 shares of the company’s stock worth $1,962,000 after acquiring an additional 13,253 shares in the last quarter. AQR Capital Management LLC grew its stake in News by 44.2% in the first quarter. AQR Capital Management LLC now owns 26,873 shares of the company’s stock worth $816,000 after purchasing an additional 8,241 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in News by 10.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,071 shares of the company’s stock worth $215,000 after purchasing an additional 655 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in News by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 307,560 shares of the company’s stock valued at $9,341,000 after buying an additional 5,285 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of News during the 1st quarter valued at $287,000. 14.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NWS shares. Weiss Ratings raised News from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Zacks Research raised News from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.

News Stock Down 0.3%

NASDAQ NWS opened at $26.19 on Friday. News Corporation has a 52 week low of $25.49 and a 52 week high of $35.58. The company has a quick ratio of 1.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $14.55 billion, a P/E ratio of 12.90 and a beta of 0.97. The stock’s 50-day moving average price is $29.28 and its 200-day moving average price is $30.75.

News (NASDAQ:NWS) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.25 by $0.15. News had a net margin of 13.35% and a return on equity of 5.94%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. On average, equities research analysts predict that News Corporation will post 1.03 earnings per share for the current year.

News Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 11th will be issued a $0.10 dividend. This represents a dividend yield of 73.0%. The ex-dividend date of this dividend is Wednesday, March 11th. News’s payout ratio is 9.85%.

News Profile

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.