American International Group Inc. Lowers Stake in News Corporation (NWS)

American International Group Inc. reduced its position in News Corporation (NASDAQ:NWS) by 1.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 42,909 shares of the company’s stock after selling 482 shares during the period. American International Group Inc.’s holdings in News Corporation were worth $579,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in NWS. Norges Bank purchased a new stake in News Corporation during the fourth quarter worth $14,029,000. Hartford Investment Management Co. boosted its stake in News Corporation by 8.8% in the first quarter. Hartford Investment Management Co. now owns 30,750 shares of the company’s stock worth $415,000 after buying an additional 2,477 shares during the period. State Street Corp boosted its stake in News Corporation by 6.4% in the fourth quarter. State Street Corp now owns 3,906,545 shares of the company’s stock worth $46,094,000 after buying an additional 235,185 shares during the period. Comerica Bank boosted its stake in News Corporation by 2.3% in the fourth quarter. Comerica Bank now owns 29,020 shares of the company’s stock worth $361,000 after buying an additional 640 shares during the period. Finally, Marshall Wace LLP purchased a new stake in News Corporation during the fourth quarter worth $212,000. 9.74% of the stock is currently owned by institutional investors and hedge funds.

News Corporation (NASDAQ NWS) opened at 13.75 on Monday. The company’s market cap is $8.00 billion. News Corporation has a 12 month low of $11.25 and a 12 month high of $15.22. The company has a 50-day moving average of $13.77 and a 200-day moving average of $13.06.

News Corporation (NASDAQ:NWS) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.03. News Corporation had a positive return on equity of 1.77% and a negative net margin of 2.64%. The business had revenue of $1.98 billion during the quarter. Analysts predict that News Corporation will post $1.39 EPS for the current year.

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Separately, BidaskClub raised shares of News Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th.

About News Corporation

News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.

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Institutional Ownership by Quarter for News Corporation (NASDAQ:NWS)

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