Thomson Reuters Corp $TRI Shares Newly Bought by BCV Asset Management Inc.

BCV Asset Management Inc. bought a new position in shares of Thomson Reuters Corp (NASDAQ:TRI) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 369,015 shares of the company’s stock, valued at approximately $36,147,000.

A number of other institutional investors have also recently modified their holdings of TRI. Western Wealth Management LLC purchased a new position in shares of Thomson Reuters in the 1st quarter valued at about $48,000. GK Wealth Management LLC purchased a new position in Thomson Reuters during the third quarter worth approximately $53,000. Continuum Advisory LLC purchased a new position in Thomson Reuters during the second quarter worth approximately $45,000. Westside Investment Management Inc. boosted its position in Thomson Reuters by 80.7% during the third quarter. Westside Investment Management Inc. now owns 600 shares of the company’s stock worth $59,000 after purchasing an additional 268 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. grew its holdings in Thomson Reuters by 310.5% in the third quarter. Eurizon Capital SGR S.p.A. now owns 784 shares of the company’s stock valued at $76,000 after purchasing an additional 593 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Trading Up 0.0%

TRI stock opened at $109.30 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Thomson Reuters Corp has a 12-month low of $76.28 and a 12-month high of $142.04. The stock has a market cap of $47.38 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.23 and a beta of 0.69. The business’s 50-day moving average is $106.04 and its 200 day moving average is $96.73.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.08). Thomson Reuters had a return on equity of 15.72% and a net margin of 20.02%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm posted $0.85 earnings per share. Thomson Reuters’s quarterly revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts anticipate that Thomson Reuters Corp will post 4.20 EPS for the current fiscal year.

Thomson Reuters announced that its Board of Directors has approved a stock buyback program on Wednesday, November 11th that permits the company to repurchase $500 million in shares. This buyback authorization permits the company to repurchase up to 1.1% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Thomson Reuters Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a $0.6550 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.4%. Thomson Reuters’s payout ratio is currently 73.18%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Thomson Reuters in a research report on Tuesday, October 20th. They issued a “buy” rating and a $130.00 price objective for the company. Canaccord Genuity Group increased their target price on Thomson Reuters from $129.50 to $130.50 and gave the company a “buy” rating in a research report on Wednesday, November 4th. RBC Dominion Securities lifted their price target on shares of Thomson Reuters from $124.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, October 28th. Morgan Stanley set a $110.00 price target on shares of Thomson Reuters and gave the stock an “equal weight” rating in a report on Tuesday, October 13th. Finally, Weiss Ratings cut shares of Thomson Reuters from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Thomson Reuters has a consensus rating of “Moderate Buy” and a consensus price target of $128.96.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information, software and services for legal, tax, accounting, compliance, risk and financial professionals. Its products help customers research complex issues, manage workflows and make informed decisions. Key offerings include Westlaw and Practical Law for legal research and practice management, Checkpoint for tax and accounting research, and ONESOURCE for tax and trade compliance. The company also provides news and information through Reuters, its global news organization.