Fairtree Asset Management Pty Ltd Makes New $1.34 Million Investment in Thomson Reuters Corp $TRI

Fairtree Asset Management Pty Ltd acquired a new stake in shares of Thomson Reuters Corp (NASDAQ:TRI) during the second quarter, Holdings Channel.com reports. The fund acquired 16,405 shares of the company’s stock, valued at approximately $1,340,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Thomson Reuters by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company’s stock valued at $762,320,000 after buying an additional 85,684 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Thomson Reuters by 10.5% during the fourth quarter. Bank of New York Mellon Corp now owns 493,071 shares of the company’s stock worth $65,031,000 after acquiring an additional 46,680 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new position in shares of Thomson Reuters in the fourth quarter worth about $4,292,000. Alberta Investment Management Corp acquired a new position in shares of Thomson Reuters in the second quarter worth about $38,770,000. Finally, Benjamin Edwards Inc. boosted its holdings in Thomson Reuters by 43.3% in the fourth quarter. Benjamin Edwards Inc. now owns 291,641 shares of the company’s stock valued at $38,541,000 after purchasing an additional 88,085 shares during the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Stock Up 0.9%

Shares of Thomson Reuters stock opened at $105.88 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. The business’s 50 day simple moving average is $92.60 and its 200-day simple moving average is $92.03. The stock has a market capitalization of $46.12 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 1.54 and a beta of 0.75. Thomson Reuters Corp has a twelve month low of $76.28 and a twelve month high of $180.00.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts forecast that Thomson Reuters Corp will post 4.45 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.655 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.62 annualized dividend and a dividend yield of 2.5%. Thomson Reuters’s dividend payout ratio is currently 69.68%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TRI. 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. Bank of America decreased their price target on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, May 19th. Scotia cut their price target 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. 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, Royal Bank Of Canada boosted their price objective on Thomson Reuters from $121.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.83.

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.