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

Coastal Bridge Advisors LLC bought a new stake in Thomson Reuters Corp (NASDAQ:TRI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,817 shares of the company’s stock, valued at approximately $475,000.

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

Analysts Set New Price Targets

TRI has been the subject of a number of research analyst reports. Wells Fargo & Company set a $85.00 price target on shares of Thomson Reuters and gave the stock an “equal weight” rating in a research note on Tuesday, June 30th. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Weiss Ratings upgraded Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Royal Bank Of Canada increased their price target on Thomson Reuters from $121.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Barclays reiterated an “overweight” rating and set a $130.00 price target (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.57.

Thomson Reuters Stock Up 1.4%

TRI stock opened at $106.22 on Friday. The firm has a market cap of $46.27 billion, a PE ratio of 28.28, a P/E/G ratio of 1.54 and a beta of 0.75. Thomson Reuters Corp has a 12 month low of $76.28 and a 12 month high of $180.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a 50 day simple moving average of $95.65 and a 200 day simple moving average of $92.46.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the business posted $0.87 earnings per share. The firm’s quarterly revenue 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 fiscal year.

Thomson Reuters Announces Dividend

The business also recently announced 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 of this dividend is Wednesday, August 19th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.5%. Thomson Reuters’s payout ratio 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.