Nordea Investment Management AB lessened its holdings in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 18.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,519 shares of the company’s stock after selling 11,409 shares during the period. Nordea Investment Management AB’s holdings in New Oriental Education & Technology Group were worth $3,491,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in shares of New Oriental Education & Technology Group by 2.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,513 shares of the company’s stock worth $107,000 after purchasing an additional 35 shares during the period. Nippon Life Insurance Co. bought a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth approximately $111,000. Tower Research Capital LLC TRC lifted its stake in shares of New Oriental Education & Technology Group by 64.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,319 shares of the company’s stock worth $140,000 after purchasing an additional 905 shares during the period. Stevens Capital Management LP bought a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth approximately $207,000. Finally, Wetherby Asset Management Inc. bought a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth approximately $227,000. Hedge funds and other institutional investors own 76.38% of the company’s stock.

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Shares of New Oriental Education & Technology Group, Inc. (NYSE EDU) opened at 88.26 on Friday. The firm’s 50-day moving average is $82.52 and its 200-day moving average is $71.61. The company has a market cap of $13.96 billion, a PE ratio of 50.72 and a beta of 1.37. New Oriental Education & Technology Group, Inc. has a 1-year low of $37.16 and a 1-year high of $94.30.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Tuesday, July 25th. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.03). The business had revenue of $486.40 million for the quarter, compared to analyst estimates of $477.81 million. New Oriental Education & Technology Group had a return on equity of 17.02% and a net margin of 15.25%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share. On average, equities analysts forecast that New Oriental Education & Technology Group, Inc. will post $2.38 earnings per share for the current fiscal year.

The firm also recently announced a special dividend, which will be paid on Friday, October 6th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.45 per share. This is an increase from New Oriental Education & Technology Group’s previous special dividend of $0.40. The ex-dividend date of this dividend is Friday, September 1st.

Several brokerages have recently weighed in on EDU. J P Morgan Chase & Co cut shares of New Oriental Education & Technology Group from a “neutral” rating to an “underweight” rating and set a $82.00 price objective on the stock. in a research note on Thursday, September 14th. Bank of America Corporation upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Monday, September 25th. Morgan Stanley began coverage on shares of New Oriental Education & Technology Group in a research note on Friday, August 25th. They issued an “overweight” rating and a $100.00 price objective on the stock. Zacks Investment Research upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Tuesday, September 26th. Finally, Benchmark Co. increased their price objective on shares of New Oriental Education & Technology Group from $75.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $84.73.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.

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Institutional Ownership by Quarter for New Oriental Education & Technology Group (NYSE:EDU)

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