Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Thomson Reuters Corp (NASDAQ:TRI – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 35,908 shares of the company’s stock, valued at approximately $2,933,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TRI. Empowered Funds LLC acquired a new stake in shares of Thomson Reuters in the 4th quarter valued at $30,000. Timmons Wealth Management LLC bought a new stake in shares of Thomson Reuters in the 4th quarter valued at about $42,000. Montag A & Associates Inc. acquired a new stake in Thomson Reuters in the fourth quarter worth $43,000. J.Safra Asset Management Corp acquired a new stake in Thomson Reuters during the 4th quarter worth $56,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Thomson Reuters during the first quarter worth about $48,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Wells Fargo & Company set a $85.00 price objective on shares of Thomson Reuters and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Scotiabank reiterated a “sector outperform” rating and set a $135.00 price target on shares of Thomson Reuters in a report on Thursday, August 6th. Scotia reduced their price objective on shares of Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group decreased their target price on Thomson Reuters from $134.00 to $132.50 and set a “buy” rating on the stock in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.83.
Thomson Reuters Stock Performance
Shares of NASDAQ:TRI opened at $105.53 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51. Thomson Reuters Corp has a 1 year low of $76.28 and a 1 year high of $180.00. The stock has a market capitalization of $45.97 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.55 and a beta of 0.75. The company’s 50 day simple moving average is $93.08 and its 200 day simple moving average is $92.12.
Thomson Reuters (NASDAQ:TRI – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.03. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.Thomson Reuters’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 EPS. As a group, research analysts predict that Thomson Reuters Corp will post 4.45 EPS for the current fiscal year.
Thomson Reuters Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.655 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.62 annualized dividend and a dividend yield of 2.5%. Thomson Reuters’s dividend payout ratio is 69.68%.
Thomson Reuters Profile
Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies realātime journalism to media organizations worldwide.
Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.
See Also
- Five stocks we like better than Thomson Reuters
- Blueprint for a Boom: SEC Clears the Crypto Runway
- Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss
- Advance Auto Parts Plunged, But Its Turnaround Is Still Working
- Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
Want to see what other hedge funds are holding TRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thomson Reuters Corp (NASDAQ:TRI – Free Report).
Receive News & Ratings for Thomson Reuters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thomson Reuters and related companies with MarketBeat.com's FREE daily email newsletter.
