ICONIQ Capital LLC Acquires New Shares in Thomson Reuters Corp $TRI

ICONIQ Capital LLC acquired a new position in shares of Thomson Reuters Corp (NASDAQ:TRI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,643 shares of the company’s stock, valued at approximately $1,033,000.

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

Thomson Reuters Stock Performance

Shares of TRI stock opened at $106.22 on Monday. Thomson Reuters Corp has a 12 month low of $76.28 and a 12 month high of $180.00. The company’s fifty day simple moving average is $95.65 and its 200-day simple moving average is $92.48. The firm has a market cap of $46.27 billion, a PE ratio of 28.28, a P/E/G ratio of 1.56 and a beta of 0.75. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12.

Thomson Reuters (NASDAQ:TRI) last issued 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 firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the business earned $0.87 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. Equities research analysts expect that Thomson Reuters Corp will post 4.45 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have weighed in on TRI shares. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 24th. Wells Fargo & Company set a $85.00 price objective on shares of Thomson Reuters and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. Canaccord Genuity Group reduced their target price on shares of Thomson Reuters from $134.00 to $132.50 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada increased their target price on Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company 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.