ICONIQ Capital LLC Invests $1.03 Million in Thomson Reuters Corp $TRI

ICONIQ Capital LLC acquired a new stake in shares of Thomson Reuters Corp (NASDAQ:TRI) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,643 shares of the company’s stock, valued at approximately $1,033,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in shares of Thomson Reuters in the 4th quarter valued at $448,000. AQR Capital Management LLC boosted its position in shares of Thomson Reuters by 30.3% during the 1st quarter. AQR Capital Management LLC now owns 17,152 shares of the company’s stock valued at $2,964,000 after acquiring an additional 3,988 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Thomson Reuters in the first quarter valued at about $205,000. Prudential Financial Inc. acquired a new position in Thomson Reuters in the second quarter worth about $234,000. Finally, Daiwa Securities Group Inc. bought a new position in Thomson Reuters during the second quarter worth about $646,000. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Stock Down 0.0%

Shares of NASDAQ TRI opened at $106.22 on Monday. Thomson Reuters Corp has a 1 year low of $76.28 and a 1 year high of $180.00. The firm has a market capitalization of $46.27 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.56 and a beta of 0.75. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average is $95.65 and its 200-day moving average is $92.48.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share 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 company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business posted $0.87 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts expect that Thomson Reuters Corp will post 4.45 EPS for the current year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $0.655 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.62 annualized dividend and a yield of 2.5%. Thomson Reuters’s dividend payout ratio (DPR) is presently 69.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada lifted their price objective on Thomson Reuters from $121.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Canaccord Genuity Group cut their target price on Thomson Reuters from $134.00 to $132.50 and set a “buy” rating for the company in a research report on Thursday, August 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. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Finally, Scotiabank reiterated a “sector outperform” rating and set a $135.00 target price on shares of Thomson Reuters in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.57.

About Thomson Reuters

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.