Pictet Asset Management Holding SA Grows Stock Position in Thomson Reuters Corp $TRI

Pictet Asset Management Holding SA increased its position in shares of Thomson Reuters Corp (NASDAQ:TRI) by 15.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 414,770 shares of the company’s stock after purchasing an additional 55,720 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.09% of Thomson Reuters worth $37,320,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Thomson Reuters by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company’s stock worth $762,320,000 after buying an additional 85,684 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Thomson Reuters by 0.7% in the fourth quarter. TD Asset Management Inc now owns 4,664,372 shares of the company’s stock worth $616,342,000 after buying an additional 33,418 shares in the last quarter. TLT Family Holdco ULC acquired a new position in Thomson Reuters during the second quarter worth about $865,442,000. SEG Family Corp. acquired a new position in Thomson Reuters during the second quarter worth about $659,930,000. Finally, Morgan Stanley grew its stake in Thomson Reuters by 31.2% during the 4th quarter. Morgan Stanley now owns 2,802,312 shares of the company’s stock valued at $369,597,000 after acquiring an additional 665,743 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analysts Set New Price Targets

TRI has been the topic of a number of research reports. Bank of America decreased their target price on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 19th. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research report on Wednesday, May 6th. Wells Fargo & Company set a $85.00 price target on Thomson Reuters and gave the company an “equal weight” rating in a report on Tuesday. Argus initiated coverage on Thomson Reuters in a report on Wednesday, April 22nd. They issued a “hold” rating for the company. Finally, UBS Group set a $185.74 target price on Thomson Reuters and gave the stock a “buy” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Thomson Reuters currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.92.

Thomson Reuters Trading Down 1.2%

NASDAQ TRI opened at $81.67 on Wednesday. The firm’s 50-day moving average is $86.11 and its two-hundred day moving average is $100.49. Thomson Reuters Corp has a 12 month low of $76.28 and a 12 month high of $218.42. 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 stock has a market capitalization of $35.62 billion, a P/E ratio of 23.76, a PEG ratio of 1.23 and a beta of 0.77.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2 billion. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business earned $1.12 earnings per share. On average, sell-side analysts anticipate that Thomson Reuters Corp will post 4.44 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a dividend of $0.655 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.2%. Thomson Reuters’s dividend payout ratio (DPR) is presently 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.