Principal Financial Group Inc. Has $11.59 Million Stake in News Co. (NASDAQ:NWSA)

Principal Financial Group Inc. grew its position in News Co. (NASDAQ:NWSA) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 435,388 shares of the company’s stock after buying an additional 12,345 shares during the quarter. Principal Financial Group Inc. owned 0.08% of News worth $11,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its stake in News by 1.6% in the third quarter. Asset Management One Co. Ltd. now owns 150,873 shares of the company’s stock valued at $4,018,000 after acquiring an additional 2,441 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of News by 12.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 139,571 shares of the company’s stock valued at $3,717,000 after purchasing an additional 15,856 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of News by 2.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 231,486 shares of the company’s stock worth $6,188,000 after buying an additional 4,465 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of News by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 44,214 shares of the company’s stock worth $1,177,000 after buying an additional 2,980 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in News by 37.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,358 shares of the company’s stock valued at $382,000 after buying an additional 3,887 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

News Stock Performance

NASDAQ:NWSA opened at $28.62 on Monday. The stock’s 50-day moving average is $26.84 and its 200-day moving average is $26.96. News Co. has a 1-year low of $20.83 and a 1-year high of $30.03. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 0.30. The stock has a market cap of $16.27 billion, a P/E ratio of 46.16 and a beta of 1.34.

Wall Street Analyst Weigh In

NWSA has been the subject of several research analyst reports. Guggenheim boosted their target price on News from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Loop Capital lifted their price target on shares of News from $38.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price objective on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, StockNews.com cut shares of News from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, News presently has an average rating of “Moderate Buy” and an average target price of $38.67.

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.