Sun Sep 15 11:05:00 UTC 2024: ## Royal London Asset Management Cuts Stake in News Corporation
**NEW YORK, NY – September 15, 2024** – Royal London Asset Management Ltd. reduced its holding in News Corporation (NASDAQ:NWSA) by 3.5% in the second quarter, according to a recent SEC filing. The fund sold 5,206 shares, leaving them with 145,514 shares valued at $4,012,000.
This move comes amidst a flurry of activity from other institutional investors. International Assets Investment Management LLC took a new position in News Corporation during the second quarter, worth approximately $26,000. Acadian Asset Management LLC increased its holdings by 95.1%, now owning 1,038 shares valued at $28,000. Other notable investors include Fidelis Capital Partners LLC and Principal Securities Inc., both taking new positions in the first and fourth quarter respectively, and Covestor Ltd., which boosted its stake by 125.8% in the first quarter.
Overall, hedge funds and other institutional investors hold 66.97% of News Corporation’s stock.
News Corporation’s stock opened at $26.14 on Friday, with a market capitalization of $14.86 billion. The company recently declared a semi-annual dividend of $0.10, payable on October 9th to shareholders of record on September 11th. This represents a yield of 0.7%.
Analysts are generally optimistic about News Corporation’s future. JPMorgan Chase & Co. raised its target price to $37.00 and gave the stock an “overweight” rating, while Loop Capital increased its target price to $39.00 and gave the stock a “buy” rating. MarketBeat.com reports a consensus rating of “Buy” with an average price target of $38.00.
News Corporation, a global media and information services company, operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.
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