13,338 Shares in Thomson Reuters Corp $TRI Purchased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. bought a new position in Thomson Reuters Corp (NASDAQ:TRIFree Report) during the 2nd quarter, HoldingsChannel reports. The fund bought 13,338 shares of the company’s stock, valued at approximately $1,089,000.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC bought a new position in Thomson Reuters in the 4th quarter valued at approximately $30,000. Timmons Wealth Management LLC bought a new stake in shares of Thomson Reuters in the 4th quarter worth $42,000. Montag A & Associates Inc. bought a new stake in shares of Thomson Reuters in the 4th quarter worth $43,000. Western Wealth Management LLC purchased a new position in shares of Thomson Reuters in the first quarter worth $48,000. Finally, J.Safra Asset Management Corp purchased a new position in shares of Thomson Reuters in the fourth quarter worth $56,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRI. Bank of America reduced their price objective on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, May 19th. Canaccord Genuity Group reduced their price target on shares of Thomson Reuters from $134.00 to $132.50 and set a “buy” rating for the company in a research note on Thursday, August 6th. Scotia decreased 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 report on Thursday, August 6th. Scotiabank restated a “sector outperform” rating and issued a $135.00 target price on shares of Thomson Reuters in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.83.

Check Out Our Latest Analysis on Thomson Reuters

Thomson Reuters Price Performance

Shares of NASDAQ:TRI opened at $104.95 on Thursday. The company has a market capitalization of $45.72 billion, a P/E ratio of 27.94, a P/E/G ratio of 1.48 and a beta of 0.75. Thomson Reuters Corp has a 1-year low of $76.28 and a 1-year high of $180.00. The firm’s 50 day simple moving average is $92.09 and its two-hundred day simple moving average is $92.07. 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 (NASDAQ:TRIGet Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Research analysts expect that Thomson Reuters Corp will post 4.45 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Thomson Reuters’s payout ratio is 69.68%.

About Thomson Reuters

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Thomson Reuters (NASDAQ:TRI)

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