Legal & General Group Plc Sells 45,930 Shares of News Corporation $NWSA

Legal & General Group Plc trimmed its holdings in News Corporation (NASDAQ:NWSA) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,884,527 shares of the company’s stock after selling 45,930 shares during the quarter. Legal & General Group Plc owned 0.33% of News worth $56,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new stake in News in the 2nd quarter valued at $30,000. Caitong International Asset Management Co. Ltd raised its position in shares of News by 12,084.6% during 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 last quarter. SVB Wealth LLC bought a new stake in shares of News in the first quarter valued at about $73,000. Allworth Financial LP lifted its stake in shares of News by 160.1% in the second quarter. Allworth Financial LP now owns 3,361 shares of the company’s stock valued at $100,000 after buying an additional 2,069 shares during the period. Finally, True Wealth Design LLC increased its stake in News by 661.1% during the second quarter. True Wealth Design LLC now owns 3,448 shares of the company’s stock valued at $102,000 after acquiring an additional 2,995 shares during the period. Institutional investors own 66.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NWSA shares. JPMorgan Chase & Co. reduced their price objective on News from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday. Macquarie restated a “neutral” rating and issued a $32.70 target price on shares of News in a research note on Wednesday, August 6th. Zacks Research downgraded shares of News from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. Finally, Guggenheim reduced their price objective on shares of News from $45.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.95.

News Stock Up 0.7%

Shares of NASDAQ:NWSA opened at $25.41 on Wednesday. The company’s fifty day moving average is $27.21 and its 200-day moving average is $28.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.63 and a current ratio of 1.76. News Corporation has a 52 week low of $23.38 and a 52 week high of $31.61. The company has a market capitalization of $14.27 billion, a PE ratio of 12.28 and a beta of 1.15.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.11 billion. News had a net margin of 13.80% and a return on equity of 5.68%. The firm’s quarterly revenue was down 16.8% on a year-over-year basis. During the same period last year, the firm posted $0.21 EPS. Equities research analysts predict that News Corporation will post 0.94 earnings per share for the current fiscal year.

About News

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.