Berger Financial Group Inc Increases Stock Position in News Corporation $NWSA

Berger Financial Group Inc increased its position in News Corporation (NASDAQ:NWSA) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 207,931 shares of the company’s stock after buying an additional 2,552 shares during the quarter. Berger Financial Group Inc’s holdings in News were worth $6,180,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Sentry Investment Management LLC acquired a new position in shares of News in the 1st quarter valued at about $36,000. Caitong International Asset Management Co. Ltd raised its holdings in News by 12,084.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company’s stock valued at $43,000 after buying an additional 1,571 shares during the period. SVB Wealth LLC acquired a new position in News during the first quarter valued at approximately $73,000. CX Institutional purchased a new stake in News during the first quarter worth approximately $76,000. Finally, Horizon Investments LLC increased its position in shares of News by 7.7% in the first quarter. Horizon Investments LLC now owns 5,575 shares of the company’s stock worth $152,000 after acquiring an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

NWSA has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of News from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Macquarie reaffirmed a “neutral” rating and issued a $32.70 target price on shares of News in a research report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of News in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, News has a consensus rating of “Buy” and an average price target of $38.62.

News Stock Performance

Shares of NWSA opened at $28.38 on Friday. The stock has a market capitalization of $16.03 billion, a PE ratio of 13.64 and a beta of 1.17. The business’s fifty day moving average price is $29.59 and its 200 day moving average price is $28.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. News Corporation has a 12-month low of $23.38 and a 12-month high of $31.61.

News (NASDAQ:NWSA) last issued its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the company earned $0.17 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that News Corporation will post 0.94 EPS for the current year.

News Dividend Announcement

The business also recently announced a half year 25 dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a dividend yield of 70.0%. News’s dividend payout ratio is 9.62%.

News 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.