Hsbc Holdings PLC Buys New Holdings in Thomson Reuters Corp $TRI

Hsbc Holdings PLC purchased a new position in shares of Thomson Reuters Corp (NASDAQ:TRI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 36,009 shares of the company’s stock, valued at approximately $2,925,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Thomson Reuters by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company’s stock worth $762,320,000 after buying an additional 85,684 shares during the period. Bank of New York Mellon Corp boosted its position in Thomson Reuters by 10.5% during the 4th quarter. Bank of New York Mellon Corp now owns 493,071 shares of the company’s stock valued at $65,031,000 after buying an additional 46,680 shares during the period. Alberta Investment Management Corp bought a new stake in Thomson Reuters in the 2nd quarter worth $38,770,000. Benjamin Edwards Inc. grew its holdings in Thomson Reuters by 43.3% in the 4th quarter. Benjamin Edwards Inc. now owns 291,641 shares of the company’s stock worth $38,541,000 after acquiring an additional 88,085 shares during the last quarter. Finally, Vest Financial LLC increased its position in shares of Thomson Reuters by 95.2% in the second quarter. Vest Financial LLC now owns 93,557 shares of the company’s stock valued at $7,641,000 after acquiring an additional 45,618 shares during the period. 17.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on TRI shares. Scotia lowered their price objective on shares of Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 6th. Wells Fargo & Company set a $85.00 price target on Thomson Reuters and gave the company an “equal weight” rating in a report on Tuesday, June 30th. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Canaccord Genuity Group dropped their price objective on Thomson Reuters from $134.00 to $132.50 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, Barclays reiterated an “overweight” rating and issued a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.57.

Thomson Reuters Trading Up 1.4%

NASDAQ:TRI opened at $106.22 on Friday. The company has a 50-day moving average price of $95.65 and a 200-day moving average price of $92.46. The stock has a market cap of $46.27 billion, a price-to-earnings ratio of 28.28, a P/E/G ratio of 1.56 and a beta of 0.75. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. Thomson Reuters Corp has a 12 month low of $76.28 and a 12 month high of $180.00.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the company earned $0.87 earnings per share. Thomson Reuters’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts predict that Thomson Reuters Corp will post 4.45 EPS for the current year.

Thomson Reuters Dividend Announcement

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

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.