AIA Group Ltd Boosts Stock Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

AIA Group Ltd raised its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,033 shares of the company’s stock after acquiring an additional 8,230 shares during the quarter. AIA Group Ltd’s holdings in New Oriental Education & Technology Group were worth $5,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EDU. SBI Securities Co. Ltd. acquired a new position in New Oriental Education & Technology Group in the 4th quarter valued at $51,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of New Oriental Education & Technology Group by 14.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after buying an additional 206 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of New Oriental Education & Technology Group in the fourth quarter worth about $138,000. Blue Trust Inc. boosted its position in New Oriental Education & Technology Group by 37.8% during the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock worth $181,000 after acquiring an additional 775 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in New Oriental Education & Technology Group during the 4th quarter valued at about $224,000.

New Oriental Education & Technology Group Trading Down 1.3 %

NYSE EDU opened at $46.99 on Monday. The stock has a fifty day simple moving average of $49.57 and a 200-day simple moving average of $58.71. The stock has a market cap of $7.97 billion, a PE ratio of 20.00 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a twelve month low of $44.46 and a twelve month high of $91.04.

Analysts Set New Price Targets

EDU has been the topic of a number of research reports. Macquarie lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their target price for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. China Renaissance downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Citigroup cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $83.00 to $50.00 in a research report on Friday, January 24th. Finally, Morgan Stanley cut shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.20.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.