JPMorgan Chase & Co. Increases Holdings in Thomson Reuters Co. $TRI

JPMorgan Chase & Co. grew its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 47.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,264,235 shares of the business services provider’s stock after buying an additional 404,158 shares during the quarter. JPMorgan Chase & Co. owned 0.28% of Thomson Reuters worth $196,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TRI. Curio Wealth LLC increased its position in Thomson Reuters by 16,200.0% during the second quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 162 shares during the last quarter. Westside Investment Management Inc. bought a new stake in shares of Thomson Reuters during the 2nd quarter valued at about $34,000. AlphaCore Capital LLC purchased a new stake in shares of Thomson Reuters during the 2nd quarter valued at about $39,000. Cullen Frost Bankers Inc. lifted its stake in shares of Thomson Reuters by 50.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock worth $39,000 after purchasing an additional 83 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Thomson Reuters in the third quarter worth approximately $57,000. Institutional investors own 17.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley set a $116.00 price target on shares of Thomson Reuters in a research report on Friday, February 6th. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a report on Friday, February 6th. Canaccord Genuity Group cut their price target on Thomson Reuters from $174.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. The Goldman Sachs Group set a $111.00 price objective on Thomson Reuters and gave the stock a “buy” rating in a research note on Saturday, February 7th. Finally, UBS Group set a $131.50 price objective on Thomson Reuters in a research note on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $156.42.

Thomson Reuters Stock Performance

NYSE TRI opened at $83.20 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a twelve month low of $81.91 and a twelve month high of $218.42. The business has a 50-day moving average price of $115.79 and a 200-day moving average price of $142.42. The firm has a market cap of $37.03 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 5.67 and a beta of 0.79.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, February 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter last year, the company earned $1.01 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be paid a dividend of $0.655 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.60. This represents a $2.62 annualized dividend and a yield of 3.1%. Thomson Reuters’s dividend payout ratio is 78.68%.

About Thomson Reuters

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.