Swiss National Bank Buys 112,300 Shares of Thomson Reuters Corp $TRI

Swiss National Bank boosted its stake in shares of Thomson Reuters Corp (NASDAQ:TRI) by 27.0% in the first quarter, Holdings Channel reports. The firm owned 528,955 shares of the company’s stock after acquiring an additional 112,300 shares during the period. Swiss National Bank’s holdings in Thomson Reuters were worth $47,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Thomson Reuters by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company’s stock worth $762,320,000 after buying an additional 85,684 shares during the last quarter. TD Asset Management Inc lifted its position in Thomson Reuters by 0.7% during the 4th quarter. TD Asset Management Inc now owns 4,664,372 shares of the company’s stock worth $616,342,000 after acquiring an additional 33,418 shares during the last quarter. TLT Family Holdco ULC bought a new stake in Thomson Reuters during the second quarter valued at about $865,442,000. SEG Family Corp. bought a new stake in Thomson Reuters during the second quarter valued at about $659,930,000. Finally, Morgan Stanley grew its position in shares of Thomson Reuters by 31.2% in the fourth quarter. Morgan Stanley now owns 2,802,312 shares of the company’s stock valued at $369,597,000 after purchasing an additional 665,743 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Down 3.7%

TRI stock opened at $87.33 on Thursday. Thomson Reuters Corp has a twelve month low of $76.28 and a twelve month high of $206.45. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11. The company has a market cap of $38.03 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 1.35 and a beta of 0.77. The business’s 50-day simple moving average is $85.76 and its 200 day simple moving average is $95.64.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter last year, the company earned $1.12 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts anticipate that Thomson Reuters Corp will post 4.44 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Wednesday, May 20th. Thomson Reuters’s dividend payout ratio is presently 76.16%.

Analysts Set New Price Targets

Several analysts recently weighed in on TRI shares. Wells Fargo & Company set a $85.00 target price on Thomson Reuters and gave the company an “equal weight” rating in a research note on Tuesday, June 30th. Scotiabank set a $138.00 price target on Thomson Reuters and gave the stock a “sector outperform” rating in a report on Wednesday, May 6th. Weiss Ratings cut Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research note on Wednesday, May 6th. Finally, Bank of America dropped their target price on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 19th. One equities research 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 given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.92.

Thomson Reuters Company 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.