New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Purchased by AIA Group Ltd

AIA Group Ltd raised its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of New Oriental Education & Technology Group by 192.2% in the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after purchasing an additional 543,810 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of New Oriental Education & Technology Group in the third quarter worth $27,425,000. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of New Oriental Education & Technology Group by 49.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 180,151 shares of the company’s stock worth $13,663,000 after acquiring an additional 59,429 shares in the last quarter. Green Court Capital Management Ltd purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth $21,152,000. Finally, Panview Capital Ltd acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at $27,358,000.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EDU shares. StockNews.com downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. China Renaissance cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Citigroup downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $50.00 in a research report on Wednesday, January 22nd. Finally, Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.20.

New Oriental Education & Technology Group Stock Down 1.3 %

NYSE:EDU opened at $46.99 on Monday. New Oriental Education & Technology Group Inc. has a 52-week low of $44.46 and a 52-week high of $91.04. The stock’s 50 day moving average price is $49.57 and its 200 day moving average price is $58.71. The company has a market capitalization of $7.97 billion, a PE ratio of 20.00 and a beta of 0.47.

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.