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

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

Other hedge funds also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in News by 2.4% in the first quarter. US Bancorp DE now owns 18,406 shares of the company’s stock valued at $482,000 after acquiring an additional 424 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of News by 3.7% in the 2nd quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock valued at $381,000 after purchasing an additional 496 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of News by 95.1% during the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after buying an additional 506 shares during the period. CWM LLC raised its stake in News by 7.8% during the second quarter. CWM LLC now owns 7,339 shares of the company’s stock worth $202,000 after buying an additional 532 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in News by 9.0% in the third quarter. GAMMA Investing LLC now owns 6,578 shares of the company’s stock valued at $175,000 after buying an additional 543 shares during the period. 66.97% of the stock is currently owned by institutional investors.

News Stock Performance

Shares of News stock opened at $28.62 on Monday. The business has a 50-day simple moving average of $26.84 and a 200 day simple moving average of $26.96. The firm has a market capitalization of $16.27 billion, a price-to-earnings ratio of 46.16 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.38 and a quick ratio of 1.26. News Co. has a one year low of $20.83 and a one year high of $30.03.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NWSA shares. JPMorgan Chase & Co. increased their price target on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Guggenheim raised 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. StockNews.com downgraded News from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Loop Capital increased their price target on News from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.67.

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.