Skandinaviska Enskilda Banken AB publ Has $2.25 Million Stake in News Co. (NASDAQ:NWSA)

Skandinaviska Enskilda Banken AB publ raised its stake in News Co. (NASDAQ:NWSA) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,715 shares of the company’s stock after buying an additional 1,721 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in News were worth $2,246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in shares of News by 2.9% during the third quarter. Principal Financial Group Inc. now owns 435,388 shares of the company’s stock worth $11,594,000 after purchasing an additional 12,345 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of News by 1.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 818,882 shares of the company’s stock worth $21,807,000 after purchasing an additional 8,289 shares during the period. KBC Group NV raised its position in shares of News by 2.2% during the third quarter. KBC Group NV now owns 385,015 shares of the company’s stock worth $10,253,000 after purchasing an additional 8,247 shares during the period. CIBC Asset Management Inc raised its position in shares of News by 8.0% during the third quarter. CIBC Asset Management Inc now owns 55,186 shares of the company’s stock worth $1,470,000 after purchasing an additional 4,077 shares during the period. Finally, Natixis Advisors LLC raised its position in shares of News by 6.4% during the third quarter. Natixis Advisors LLC now owns 32,588 shares of the company’s stock worth $868,000 after purchasing an additional 1,965 shares during the period. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Stock Up 2.6 %

NWSA stock opened at $26.98 on Monday. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $28.20 and a two-hundred day moving average price of $27.80. The company has a market cap of $15.31 billion, a price-to-earnings ratio of 36.96 and a beta of 1.34. News Co. has a twelve month low of $22.65 and a twelve month high of $30.69.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. News had a return on equity of 5.31% and a net margin of 4.22%. Analysts anticipate that News Co. will post 0.94 EPS for the current fiscal year.

News Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.48%. News’s dividend payout ratio is 27.40%.

Analysts Set New Price Targets

NWSA has been the topic of a number of research analyst reports. Citigroup initiated coverage on News in a research report on Friday, January 10th. They set a “buy” rating and a $36.00 price target on the stock. UBS Group raised News from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 4th. Guggenheim lifted their target price on News from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Loop Capital dropped their target price on News from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Finally, StockNews.com raised News from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $39.25.

News Company 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.