Pictet Asset Management Holding SA Boosts Stock Position in Thomson Reuters Corp $TRI

Pictet Asset Management Holding SA increased its position in shares of Thomson Reuters Corp (NASDAQ:TRI) by 15.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 414,770 shares of the company’s stock after acquiring an additional 55,720 shares during the period. Pictet Asset Management Holding SA’s holdings in Thomson Reuters were worth $37,320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in shares of Thomson Reuters during the fourth quarter worth about $30,000. Timmons Wealth Management LLC acquired a new position in shares of Thomson Reuters in the fourth quarter valued at approximately $42,000. Montag A & Associates Inc. acquired a new position in shares of Thomson Reuters in the fourth quarter valued at approximately $43,000. J.Safra Asset Management Corp purchased a new stake in Thomson Reuters during the 4th quarter worth approximately $56,000. Finally, Hantz Financial Services Inc. boosted its position in Thomson Reuters by 1,011.7% in the 4th quarter. Hantz Financial Services Inc. now owns 667 shares of the company’s stock valued at $88,000 after buying an additional 607 shares during the period. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRI has been the subject of several research reports. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research note on Wednesday, May 6th. Wells Fargo & Company set a $85.00 price objective on Thomson Reuters and gave the company an “equal weight” rating in a research note on Tuesday. UBS Group set a $185.74 target price on Thomson Reuters and gave the company a “buy” rating in a report on Thursday, April 23rd. Bank of America lowered their target price on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, May 19th. Finally, Weiss Ratings downgraded Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Thomson Reuters has an average rating of “Moderate Buy” and an average target price of $143.92.

Thomson Reuters Price Performance

Shares of NASDAQ:TRI opened at $81.67 on Wednesday. Thomson Reuters Corp has a 12 month low of $76.28 and a 12 month high of $218.42. The firm has a market capitalization of $35.62 billion, a P/E ratio of 23.76, a P/E/G ratio of 1.23 and a beta of 0.77. 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’s fifty day moving average price is $86.11 and its 200 day moving average price is $100.49.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.05. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2 billion. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. Thomson Reuters’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share. As a group, sell-side analysts predict that Thomson Reuters Corp will post 4.44 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $0.655 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.2%. Thomson Reuters’s dividend payout ratio is 76.16%.

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.