American International Group Inc. Raises Stake in News Corp (NWSA)
American International Group Inc. lifted its position in News Corp (NASDAQ:NWSA) by 5.4% during the 4th quarter, Holdings Channel reports. The firm owned 274,813 shares of the company’s stock after acquiring an additional 14,158 shares during the quarter. American International Group Inc.’s holdings in News were worth $4,455,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Cerebellum GP LLC bought a new stake in shares of News in the fourth quarter worth about $128,000. LMR Partners LLP bought a new stake in shares of News in the third quarter worth about $134,000. Vident Investment Advisory LLC bought a new stake in shares of News in the third quarter worth about $140,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of News in the third quarter worth about $149,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of News by 322.5% in the second quarter. Cubist Systematic Strategies LLC now owns 11,829 shares of the company’s stock worth $162,000 after purchasing an additional 9,029 shares during the last quarter. 60.73% of the stock is currently owned by hedge funds and other institutional investors.
Shares of News Corp (NASDAQ:NWSA) opened at $15.87 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 1.64. News Corp has a 52 week low of $12.19 and a 52 week high of $17.29. The firm has a market capitalization of $9,248.05, a P/E ratio of -20.61, a price-to-earnings-growth ratio of 2.45 and a beta of 1.97.
The business also recently disclosed a semiannual dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Wednesday, March 14th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a yield of 1.27%. News’s payout ratio is currently -25.97%.
Several brokerages have recently issued reports on NWSA. Zacks Investment Research cut News from a “buy” rating to a “hold” rating in a report on Monday, January 15th. Jefferies Group reaffirmed a “buy” rating on shares of News in a report on Friday, February 9th. Finally, TheStreet cut News from a “b-” rating to a “c+” rating in a report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $17.00.
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News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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