Thomson Reuters Corp $TRI Stock: Ethic Inc. Boosts Position

Ethic Inc. boosted its holdings in shares of Thomson Reuters Corp (NASDAQ:TRI) by 79.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,895 shares of the company’s stock after acquiring an additional 6,140 shares during the period. Ethic Inc.’s holdings in Thomson Reuters were worth $1,352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Westside Investment Management Inc. grew its holdings in Thomson Reuters by 80.7% during the 3rd quarter. Westside Investment Management Inc. now owns 600 shares of the company’s stock valued at $59,000 after buying an additional 268 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Thomson Reuters in the third quarter worth $3,146,000. Landaas & Co. WI ADV purchased a new stake in shares of Thomson Reuters in the third quarter valued at $236,000. SilverOak Wealth Management LLC purchased a new stake in shares of Thomson Reuters in the third quarter valued at $333,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Thomson Reuters by 0.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 62,952 shares of the company’s stock valued at $6,127,000 after acquiring an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of TRI 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 52 week low of $76.28 and a 52 week high of $142.04. The stock has a 50 day moving average of $106.04 and a 200-day moving average of $96.73. The firm has a market cap of $47.38 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 2.23 and a beta of 0.69.

Thomson Reuters (NASDAQ:TRI) last posted its earnings results on Tuesday, November 3rd. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.08). Thomson Reuters had a net margin of 20.02% and a return on equity of 15.72%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the business posted $0.85 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, analysts forecast that Thomson Reuters Corp will post 4.20 EPS for the current year.

Thomson Reuters declared that its Board of Directors has approved a share buyback plan on Wednesday, November 11th that authorizes the company to buy back $500 million in shares. This buyback authorization authorizes the company to repurchase up to 1.1% of its shares through open market purchases. Share buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Thomson Reuters Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently commented on TRI. TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Scotia reduced their target price on shares of Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 6th. Scotiabank reaffirmed a “sector outperform” rating and set a $135.00 price target on shares of Thomson Reuters in a research note on Thursday, August 6th. Morgan Stanley set a $110.00 price target on shares of Thomson Reuters and gave the stock an “equal weight” rating in a research note on Tuesday, October 13th. Finally, RBC Dominion Securities boosted their price target on Thomson Reuters from $124.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, October 28th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Thomson Reuters currently has an average 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.