Coastal Bridge Advisors LLC Invests $475,000 in Thomson Reuters Corp $TRI

Coastal Bridge Advisors LLC purchased a new stake in shares of Thomson Reuters Corp (NASDAQ:TRI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,817 shares of the company’s stock, valued at approximately $475,000.

Several other hedge funds have also made changes to their positions in TRI. Empowered Funds LLC acquired a new stake in shares of Thomson Reuters in the fourth quarter worth $30,000. Timmons Wealth Management LLC acquired a new position in Thomson Reuters during the fourth quarter valued at $42,000. Montag A & Associates Inc. purchased a new stake in Thomson Reuters in the 4th quarter worth about $43,000. J.Safra Asset Management Corp purchased a new stake in Thomson Reuters in the 4th quarter worth about $56,000. Finally, Western Wealth Management LLC acquired a new stake in Thomson Reuters during the 1st quarter worth about $48,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Wall Street Analyst Weigh In

TRI has been the topic of a number of research reports. Scotia dropped their target price on 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 objective on shares of Thomson Reuters in a research report on Thursday, August 6th. Royal Bank Of Canada upped their price objective on shares of Thomson Reuters from $121.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Wells Fargo & Company set a $85.00 target price on shares of Thomson Reuters and gave the company an “equal weight” rating in a research note on Tuesday, June 30th. Finally, Bank of America lowered their price target on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Thomson Reuters Stock Performance

TRI opened at $106.22 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market cap of $46.27 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.54 and a beta of 0.75. The stock has a 50-day moving average of $95.65 and a 200-day moving average of $92.46. Thomson Reuters Corp has a 52-week low of $76.28 and a 52-week high of $180.00.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the business earned $0.87 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts forecast that Thomson Reuters Corp will post 4.45 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, August 19th. Thomson Reuters’s dividend payout ratio (DPR) is 69.68%.

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.