CANADA LIFE ASSURANCE Co Increases Holdings in NetEase, Inc. (NASDAQ:NTES)

CANADA LIFE ASSURANCE Co boosted its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 38.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,366 shares of the technology company's stock after purchasing an additional 10,137 shares during the period. CANADA LIFE ASSURANCE Co's holdings in NetEase were worth $3,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC raised its stake in shares of NetEase by 14.3% during the fourth quarter. NewEdge Advisors LLC now owns 3,850 shares of the technology company's stock valued at $343,000 after acquiring an additional 481 shares in the last quarter. Dodge & Cox raised its stake in shares of NetEase by 0.6% during the fourth quarter. Dodge & Cox now owns 2,649,876 shares of the technology company's stock valued at $236,395,000 after acquiring an additional 15,900 shares in the last quarter. XTX Topco Ltd raised its stake in shares of NetEase by 320.9% during the fourth quarter. XTX Topco Ltd now owns 12,315 shares of the technology company's stock valued at $1,099,000 after acquiring an additional 9,389 shares in the last quarter. Mariner LLC raised its stake in shares of NetEase by 13.2% during the fourth quarter. Mariner LLC now owns 8,569 shares of the technology company's stock valued at $764,000 after acquiring an additional 998 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of NetEase by 6.6% during the fourth quarter. Neuberger Berman Group LLC now owns 128,425 shares of the technology company's stock valued at $11,457,000 after acquiring an additional 7,978 shares in the last quarter. Institutional investors own 11.07% of the company's stock.

NetEase Price Performance

NASDAQ NTES traded up $1.14 on Tuesday, hitting $106.36. The stock had a trading volume of 662,459 shares, compared to its average volume of 1,625,636. The business's fifty day moving average price is $100.45 and its 200 day moving average price is $94.59. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $110.15. The stock has a market cap of $68.30 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 3.37 and a beta of 0.65.

NetEase (NASDAQ:NTES - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.14. NetEase had a net margin of 28.17% and a return on equity of 22.12%. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. As a group, sell-side analysts anticipate that NetEase, Inc. will post 6.91 EPS for the current year.

NetEase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a dividend of $0.435 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a yield of 1.64%. NetEase's dividend payout ratio is currently 76.45%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NTES. Barclays lifted their price objective on shares of NetEase from $82.00 to $104.00 and gave the company an "equal weight" rating in a report on Monday, February 24th. Morgan Stanley lifted their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Benchmark lifted their price objective on shares of NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Bank of America lifted their price objective on shares of NetEase from $120.00 to $122.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $112.67.

NetEase Company Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.