Waterfront Wealth Inc. Buys Shares of 9,284 Thomson Reuters Corp $TRI

Waterfront Wealth Inc. purchased a new position in Thomson Reuters Corp (NASDAQ:TRI) during the 1st quarter, HoldingsChannel reports. The firm purchased 9,284 shares of the company’s stock, valued at approximately $835,000.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of Thomson Reuters in the fourth quarter valued at approximately $30,000. Timmons Wealth Management LLC acquired a new stake in shares of Thomson Reuters in the fourth quarter worth $42,000. Montag A & Associates Inc. acquired a new stake in shares of Thomson Reuters in the fourth quarter worth $43,000. J.Safra Asset Management Corp bought a new position in Thomson Reuters during the fourth quarter worth $56,000. Finally, Hantz Financial Services Inc. increased its position in Thomson Reuters by 1,011.7% during the fourth quarter. Hantz Financial Services Inc. now owns 667 shares of the company’s stock worth $88,000 after acquiring an additional 607 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Stock Performance

Shares of NASDAQ TRI traded up $0.84 during trading hours on Friday, reaching $89.65. The stock had a trading volume of 1,532,256 shares, compared to its average volume of 1,852,788. The business’s fifty day moving average is $85.34 and its two-hundred day moving average is $98.21. 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 company has a market cap of $39.11 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.32 and a beta of 0.77. Thomson Reuters Corp has a twelve month low of $76.28 and a twelve month high of $218.42.

Thomson Reuters (NASDAQ:TRI) last issued its earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.18 by $0.05. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the business earned $1.12 earnings per share. Thomson Reuters’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts expect that Thomson Reuters Corp will post 4.44 EPS for the current year.

Thomson Reuters Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a $0.655 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.9%. Thomson Reuters’s dividend payout ratio is currently 76.16%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Argus began coverage on shares of Thomson Reuters in a report on Wednesday, April 22nd. They issued a “hold” rating for the company. Barclays restated an “overweight” rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. Wells Fargo & Company set a $85.00 price objective on shares of Thomson Reuters and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. Weiss Ratings cut shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. Finally, TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Thomson Reuters has an average rating of “Moderate Buy” and an average target price of $143.92.

Thomson Reuters 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.