VestGen Advisors LLC Purchases 14,782 Shares of Thomson Reuters Corp $TRI

VestGen Advisors LLC acquired a new stake in shares of Thomson Reuters Corp (NASDAQ:TRI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,782 shares of the company’s stock, valued at approximately $1,439,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Western Wealth Management LLC purchased a new stake in shares of Thomson Reuters in the 1st quarter valued at about $48,000. GK Wealth Management LLC purchased a new position in shares of Thomson Reuters during the third quarter worth about $53,000. Continuum Advisory LLC bought a new position in shares of Thomson Reuters in the second quarter worth approximately $45,000. SBI Securities Co. Ltd. increased its position in shares of Thomson Reuters by 66.9% in the second quarter. SBI Securities Co. Ltd. now owns 786 shares of the company’s stock worth $64,000 after purchasing an additional 315 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Thomson Reuters by 135.8% in the first quarter. Fifth Third Bancorp now owns 823 shares of the company’s stock worth $74,000 after purchasing an additional 474 shares during the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Scotiabank reissued a “sector outperform” rating and issued a $135.00 price target on shares of Thomson Reuters in a research note on Thursday, August 6th. Barclays dropped their price objective on shares of Thomson Reuters from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, September 8th. RBC Dominion Securities lifted their price objective on shares of Thomson Reuters from $124.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group began coverage on shares of Thomson Reuters in a research report on Tuesday, October 20th. They issued a “buy” rating and a $130.00 target price for the company. Finally, Morgan Stanley set a $110.00 target price on Thomson Reuters and gave the company an “equal weight” rating in a research note on Tuesday, October 13th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Thomson Reuters presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.99.

Thomson Reuters Trading Up 1.6%

TRI stock opened at $118.25 on Friday. The company has a market capitalization of $51.24 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 2.24 and a beta of 0.75. 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 Corp has a one year low of $76.28 and a one year high of $157.63. The company’s 50 day moving average price is $104.82 and its two-hundred day moving average price is $97.36.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the company earned $0.87 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, analysts predict that Thomson Reuters Corp will post 4.46 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were given a dividend of $0.6550 per share. This represents a $2.62 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, August 19th. Thomson Reuters’s dividend payout ratio is presently 69.68%.

About Thomson Reuters

Thomson Reuters is a global provider of information, software and technology solutions for professionals and institutions. The company serves customers in the legal, tax, accounting, audit, corporate, government, risk and compliance sectors, as well as the media industry. Its offerings combine authoritative content with workflow tools, data analytics and artificial intelligence.

Key products and services include Westlaw and Practical Law for legal research and practice management; Checkpoint and ONESOURCE for tax and accounting professionals; Confirmation for audit-related workflows; and CoCounsel, an AI-assisted legal technology platform.