Envestnet Asset Management Inc. sells 11,405 shares of News Co. (NASDAQ:NWS)

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Envestnet Asset Management Inc. reduced its position in News Co shares. (NASDAQ:NWS – Free Report) by 8.5% during the second quarter, HoldingsChannel.com reports. The firm owned 123,476 shares of the company’s stock after selling 11,405 shares during the period. Holdings of Envestnet Asset Management Inc. in News were worth $3,505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NWS. QRG Capital Management Inc. grew its position in News by 1.4% in the second quarter. QRG Capital Management Inc. now owns 35,065 shares of the company’s stock valued at $995,000 after acquiring an additional 486 shares during the period. Covestor Ltd increased its position in News by 69.9% in the first quarter. Covestor Ltd now owns 1,201 shares of the company’s stock valued at $33,000 after acquiring an additional 494 shares during the period. State Treasurer State of North Carolina increased its position in News by 1.0% in the fourth quarter. State Treasurer State of North Carolina now owns 51,640 shares of the company’s stock valued at $1,328,000 after acquiring an additional 500 shares during the period. GAMMA Investing LLC grew its position in News by 18.8% in the first quarter. GAMMA Investing LLC now owns 3,392 shares of the company’s stock valued at $92,000 after acquiring an additional 537 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in News by 8.7% in the second quarter. Daiwa Securities Group Inc. now owns 7,638 shares of the company’s stock valued at $217,000 after acquiring an additional 612 shares during the period. 14.63% of shares are currently owned by institutional investors.

Analysts set new price targets

Separately, Loop Capital raised News to a “strong-buy” rating in a research note on Tuesday, September 10th.

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News trading down 0.8%

NASDAQ NWS opened at $27.55 on Thursday. The stock has a 50-day simple moving average of $28.10 and a 200-day simple moving average of $27.40. The company has a market cap of $15.70 billion, a PE ratio of 76.53 and a beta of 1.37. The company has a current ratio of 1.43, a quick ratio of 1.33, and a debt-to-equity ratio of 0.32. News Co. has a 12-month low of $20.01 and a 12-month high of $29.59.

News (NASDAQ:NWS – Get Free Report ) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter. The company had revenue of $2.58 billion during the quarter. News had a return on equity of 4.51% and a net margin of 2.64%.

News Dividend announcement

The firm also recently disclosed a semiannual dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th will be given a $0.10 dividend. The ex-dividend date is Wednesday, September 11. This represents a dividend yield of 0.7%. News’s payout ratio is 55.56%.

About News

(Free Report)

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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media and Others.