Corebridge Financial Inc. Sells 1,358 Shares of News Co. (NASDAQ:NWS)

Corebridge Financial Inc. lowered its position in News Co. (NASDAQ:NWS) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,523 shares of the company’s stock after selling 1,358 shares during the period. Corebridge Financial Inc.’s holdings in News were worth $807,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp lifted its stake in News by 4.4% in the third quarter. State Street Corp now owns 7,069,813 shares of the company’s stock valued at $198,254,000 after buying an additional 295,631 shares in the last quarter. Vanguard Group Inc. lifted its position in News by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 6,535,237 shares of the company’s stock valued at $198,867,000 after acquiring an additional 138,680 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in News by 17.5% in the 4th quarter. Bank of New York Mellon Corp now owns 845,246 shares of the company’s stock worth $25,721,000 after purchasing an additional 125,852 shares during the period. JPMorgan Chase & Co. increased its holdings in News by 101.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 496,926 shares of the company’s stock worth $13,889,000 after purchasing an additional 249,659 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of News by 3.7% in the 4th quarter. Rhumbline Advisers now owns 203,657 shares of the company’s stock valued at $6,197,000 after purchasing an additional 7,238 shares during the period. Institutional investors and hedge funds own 14.63% of the company’s stock.

News Stock Performance

Shares of NWS stock opened at $27.70 on Friday. News Co. has a 12 month low of $23.99 and a 12 month high of $35.25. The company’s fifty day simple moving average is $31.87 and its 200-day simple moving average is $30.66. The firm has a market cap of $15.72 billion, a PE ratio of 37.95 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 posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). News had a return on equity of 5.31% and a net margin of 4.22%. Equities research analysts expect that News Co. will post 1.03 EPS for the current fiscal year.

News Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a yield of 0.6%. News’s payout ratio is 27.40%.

Wall Street Analyst Weigh In

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

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.