Pinebridge Investments L.P. Has $470,000 Holdings in News Co. (NASDAQ:NWS)

Pinebridge Investments L.P. lessened its holdings in shares of News Co. (NASDAQ:NWS) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,456 shares of the company’s stock after selling 937 shares during the period. Pinebridge Investments L.P.’s holdings in News were worth $470,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of NWS. Principal Financial Group Inc. lifted its holdings in shares of News by 1.9% during the third quarter. Principal Financial Group Inc. now owns 137,034 shares of the company’s stock worth $3,830,000 after purchasing an additional 2,609 shares during the period. JPMorgan Chase & Co. lifted its holdings in News by 101.0% in the third quarter. JPMorgan Chase & Co. now owns 496,926 shares of the company’s stock valued at $13,889,000 after buying an additional 249,659 shares during the period. GAMMA Investing LLC lifted its holdings in News by 28.5% in the fourth quarter. GAMMA Investing LLC now owns 7,790 shares of the company’s stock valued at $237,000 after buying an additional 1,729 shares during the period. Czech National Bank lifted its holdings in News by 6.2% in the fourth quarter. Czech National Bank now owns 24,281 shares of the company’s stock valued at $739,000 after buying an additional 1,414 shares during the period. Finally, Avanza Fonder AB acquired a new position in News in the fourth quarter valued at $224,000. Institutional investors and hedge funds own 14.63% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Seaport Res Ptn upgraded shares of News to a “strong-buy” rating in a report on Friday, January 31st.

News Price Performance

NWS stock opened at $31.22 on Tuesday. The company’s fifty day simple moving average is $30.63 and its 200 day simple moving average is $30.96. News Co. has a 12-month low of $23.99 and a 12-month high of $35.25. The firm has a market cap of $17.71 billion, a price-to-earnings ratio of 42.77 and a beta of 1.26. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22.

News (NASDAQ:NWS) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). News had a net margin of 4.22% and a return on equity of 5.31%. On average, analysts expect that News Co. will post 1.03 earnings per share for the current year.

News Announces Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a dividend yield of 0.6%. News’s dividend payout ratio is currently 27.40%.

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.