VestGen Investment Management Acquires 502 Shares of News Corporation $NWS

VestGen Investment Management increased its position in shares of News Corporation (NASDAQ:NWS) by 3.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 13,679 shares of the company’s stock after purchasing an additional 502 shares during the period. VestGen Investment Management’s holdings in News were worth $469,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in News during the first quarter worth $377,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of News by 8.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,468 shares of the company’s stock valued at $409,000 after purchasing an additional 1,024 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of News by 20.3% in the first quarter. Asset Management One Co. Ltd. now owns 3,210 shares of the company’s stock valued at $97,000 after purchasing an additional 542 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of News by 22.7% in the first quarter. Envestnet Asset Management Inc. now owns 220,230 shares of the company’s stock valued at $6,688,000 after purchasing an additional 40,731 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of News by 15.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,790 shares of the company’s stock valued at $379,000 after purchasing an additional 1,739 shares during the last quarter. 14.63% of the stock is currently owned by institutional investors and hedge funds.

News Trading Up 0.0%

NWS stock opened at $30.15 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84. The company’s 50-day simple moving average is $32.48 and its 200 day simple moving average is $32.59. News Corporation has a 52 week low of $26.25 and a 52 week high of $35.58. The company has a market capitalization of $17.03 billion, a PE ratio of 14.50 and a beta of 1.17.

News (NASDAQ:NWS) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. News had a net margin of 13.21% and a return on equity of 5.66%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.09 billion. As a group, sell-side analysts anticipate that News Corporation will post 1.03 earnings per share for the current year.

News Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th were paid a $0.10 dividend. The ex-dividend date was Wednesday, September 10th. This represents a dividend yield of 63.0%. News’s dividend payout ratio is 9.62%.

Analyst Ratings Changes

NWS has been the topic of several research reports. Zacks Research upgraded shares of News from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of News in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, News currently has a consensus rating of “Buy”.

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.