Sumitomo Mitsui Trust Group Inc. Invests $10.12 Million in Thomson Reuters Co. $TRI

Sumitomo Mitsui Trust Group Inc. bought a new stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 65,131 shares of the business services provider’s stock, valued at approximately $10,117,000.

A number of other large investors have also recently bought and sold shares of TRI. Curio Wealth LLC increased its stake in Thomson Reuters by 16,200.0% in the second quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 162 shares during the period. Westside Investment Management Inc. purchased a new position in shares of Thomson Reuters during the second quarter worth about $34,000. Ameritas Advisory Services LLC acquired a new position in Thomson Reuters in the 2nd quarter valued at about $37,000. AlphaCore Capital LLC purchased a new stake in Thomson Reuters during the 2nd quarter valued at approximately $39,000. Finally, SBI Securities Co. Ltd. lifted its position in Thomson Reuters by 30.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 309 shares of the business services provider’s stock worth $62,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TRI. Canaccord Genuity Group set a $174.00 target price on Thomson Reuters and gave the company a “buy” rating in a report on Tuesday, November 4th. Scotiabank reaffirmed an “outperform” rating and issued a $189.00 target price (down previously from $200.00) on shares of Thomson Reuters in a report on Wednesday, November 5th. CIBC set a $183.00 price target on shares of Thomson Reuters and gave the stock an “outperformer” rating in a research note on Friday. Huber Research upgraded shares of Thomson Reuters to an “overweight” rating in a research report on Monday, October 20th. Finally, Morgan Stanley set a $165.00 price objective on Thomson Reuters and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $188.55.

Thomson Reuters Trading Down 0.7%

Thomson Reuters stock opened at $124.02 on Friday. The stock has a 50-day moving average price of $132.28 and a 200 day moving average price of $159.85. Thomson Reuters Co. has a 52 week low of $123.21 and a 52 week high of $218.42. The stock has a market cap of $55.17 billion, a PE ratio of 25.36, a P/E/G ratio of 5.67 and a beta of 0.80. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.04. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.80 EPS. Equities research analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were paid a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, November 18th. Thomson Reuters’s dividend payout ratio is currently 61.18%.

Thomson Reuters Profile

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.