Bastion Asset Management Inc. purchased a new position in Thomson Reuters Corp (NASDAQ:TRI – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 38,658 shares of the company’s stock, valued at approximately $3,481,000.
A number of other large investors also recently added to or reduced their stakes in TRI. Empowered Funds LLC purchased a new position in Thomson Reuters during the fourth quarter valued at $30,000. Timmons Wealth Management LLC purchased a new stake in shares of Thomson Reuters during the fourth quarter worth about $42,000. Montag A & Associates Inc. purchased a new stake in shares of Thomson Reuters during the fourth quarter worth about $43,000. J.Safra Asset Management Corp acquired a new position in shares of Thomson Reuters during the 4th quarter worth about $56,000. Finally, Hantz Financial Services Inc. raised its position in shares of Thomson Reuters by 1,011.7% during the 4th quarter. Hantz Financial Services Inc. now owns 667 shares of the company’s stock worth $88,000 after purchasing an additional 607 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Scotiabank set a $138.00 price target on shares of Thomson Reuters and gave the company a “sector outperform” rating in a research note on Wednesday, May 6th. Wells Fargo & Company set a $85.00 target price on Thomson Reuters and gave the company an “equal weight” rating in a report on Tuesday, June 30th. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research report on Wednesday, May 6th. Barclays reaffirmed an “overweight” rating and issued a $130.00 price target (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. Finally, Bank of America dropped their price target on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Thomson Reuters has a consensus rating of “Moderate Buy” and a consensus price target of $143.92.
Thomson Reuters Stock Performance
TRI opened at $98.82 on Friday. The firm has a market capitalization of $43.03 billion, a PE ratio of 28.75, a PEG ratio of 1.42 and a beta of 0.77. Thomson Reuters Corp has a twelve month low of $76.28 and a twelve month high of $211.85. The firm’s 50-day moving average price is $85.40 and its 200 day moving average price is $96.82. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.11.
Thomson Reuters (NASDAQ:TRI – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. Thomson Reuters’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Thomson Reuters Corp will post 4.44 EPS for the current fiscal year.
Thomson Reuters Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a $0.655 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.7%. Thomson Reuters’s dividend payout ratio is 76.16%.
Thomson Reuters Company 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 real‐time 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.
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