TD Asset Management Inc Boosts Stake in Thomson Reuters Corp $TRI

TD Asset Management Inc raised its position in shares of Thomson Reuters Corp (NASDAQ:TRI) by 0.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,664,372 shares of the company’s stock after buying an additional 33,418 shares during the quarter. TD Asset Management Inc’s holdings in Thomson Reuters were worth $616,342,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new stake in Thomson Reuters during the fourth quarter valued at about $43,000. Westside Investment Management Inc. grew its position in Thomson Reuters by 100.0% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the company’s stock valued at $52,000 after acquiring an additional 169 shares during the period. UMB Bank n.a. grew its position in Thomson Reuters by 21.2% during the third quarter. UMB Bank n.a. now owns 441 shares of the company’s stock valued at $69,000 after acquiring an additional 77 shares during the period. Smartleaf Asset Management LLC grew its position in Thomson Reuters by 53.9% during the third quarter. Smartleaf Asset Management LLC now owns 614 shares of the company’s stock valued at $96,000 after acquiring an additional 215 shares during the period. Finally, Hantz Financial Services Inc. grew its position in Thomson Reuters by 1,011.7% during the fourth quarter. Hantz Financial Services Inc. now owns 667 shares of the company’s stock valued at $88,000 after acquiring an additional 607 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays reissued an “overweight” rating and set a $130.00 price target (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. UBS Group set a $185.74 target price on Thomson Reuters and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Scotiabank set a $138.00 target price on Thomson Reuters and gave the stock a “sector outperform” rating in a research report on Wednesday, May 6th. Argus assumed coverage on Thomson Reuters in a research report on Wednesday, April 22nd. They issued a “hold” rating for the company. Finally, Canaccord Genuity Group decreased their target price on Thomson Reuters from $176.61 to $131.95 and set a “buy” rating for the company in a research report on Wednesday, February 4th. One 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, Thomson Reuters presently has an average rating of “Moderate Buy” and a consensus target price of $144.84.

Thomson Reuters Price Performance

Shares of NASDAQ TRI opened at $83.43 on Thursday. Thomson Reuters Corp has a 1-year low of $78.60 and a 1-year high of $218.42. The business has a 50-day moving average of $89.52 and a 200-day moving average of $107.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $36.39 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.29 and a beta of 0.77.

Thomson Reuters (NASDAQ:TRI) last issued its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.05. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2 billion. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 earnings per share. On average, equities analysts anticipate that Thomson Reuters Corp will post 4.44 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a $0.655 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a yield of 3.1%. Thomson Reuters’s dividend payout ratio is currently 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.