Hsbc Holdings PLC Makes New $2.92 Million Investment in Thomson Reuters Corp $TRI

Hsbc Holdings PLC acquired a new stake in shares of Thomson Reuters Corp (NASDAQ:TRI) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 36,009 shares of the company’s stock, valued at approximately $2,925,000.

A number of other hedge funds have also recently modified their holdings of TRI. EFG International AG bought a new position in shares of Thomson Reuters in the 2nd quarter worth about $1,639,000. Canada Pension Plan Investment Board purchased a new position in Thomson Reuters during the 2nd quarter valued at about $107,223,000. Legal & General Group Plc bought a new stake in Thomson Reuters during the second quarter worth about $74,310,000. The Manufacturers Life Insurance Company bought a new stake in Thomson Reuters during the second quarter worth about $102,215,000. Finally, ICONIQ Capital LLC purchased a new stake in Thomson Reuters in the second quarter worth about $1,033,000. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Up 1.4%

Shares of Thomson Reuters stock opened at $106.22 on Friday. The company has a 50-day simple moving average of $95.65 and a two-hundred day simple moving average of $92.46. The stock has a market capitalization of $46.27 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.56 and a beta of 0.75. Thomson Reuters Corp has a 52-week low of $76.28 and a 52-week high of $180.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 earnings per share. On average, analysts anticipate that Thomson Reuters Corp will post 4.45 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.655 per share. 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 currently 69.68%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada raised their target price 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. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Scotia cut their price target on Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 6th. Barclays reiterated an “overweight” rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. Finally, Weiss Ratings raised Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 24th. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $131.57.

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.