Corebridge Financial Inc. Has $807,000 Position in News Co. (NASDAQ:NWS)

Corebridge Financial Inc. decreased its holdings in shares of News Co. (NASDAQ:NWS) by 4.9% in the 4th quarter, HoldingsChannel reports. The firm 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of News by 4.4% during the third quarter. State Street Corp now owns 7,069,813 shares of the company’s stock worth $198,254,000 after acquiring an additional 295,631 shares during the period. JPMorgan Chase & Co. boosted its stake in News by 101.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 496,926 shares of the company’s stock valued at $13,889,000 after purchasing an additional 249,659 shares during the period. Vanguard Group Inc. grew its holdings 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 buying an additional 138,680 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of News by 17.5% during the fourth quarter. Bank of New York Mellon Corp now owns 845,246 shares of the company’s stock worth $25,721,000 after buying an additional 125,852 shares in the last quarter. Finally, FMR LLC boosted its position in shares of News by 362.3% in the third quarter. FMR LLC now owns 94,940 shares of the company’s stock valued at $2,654,000 after acquiring an additional 74,405 shares during the period. Institutional investors and hedge funds own 14.63% of the company’s stock.

News Trading Down 5.9 %

Shares of NWS stock opened at $27.70 on Friday. The stock has a market cap of $15.72 billion, a P/E ratio of 37.95 and a beta of 1.26. News Co. has a 1 year low of $23.99 and a 1 year high of $35.25. The company has a current ratio of 1.73, a quick ratio of 1.65 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $31.87 and a 200 day simple moving average of $30.66.

News (NASDAQ:NWS) last released its earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). News had a net margin of 4.22% and a return on equity of 5.31%. On average, research analysts predict that News Co. will post 1.03 earnings per share 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. Shareholders of record on Wednesday, March 12th will be issued a $0.10 dividend. This represents a yield of 0.6%. The ex-dividend date is Wednesday, March 12th. News’s dividend payout ratio is currently 27.40%.

Analyst Ratings Changes

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

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.