Thomson Reuters Co. (NYSE:TRI) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 12.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 188,117 shares of the business services provider’s stock after buying an additional 21,016 shares during the period. Pictet Asset Management Holding SA’s holdings in Thomson Reuters were worth $30,191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRI. Decker Retirement Planning Inc. acquired a new stake in Thomson Reuters in the 4th quarter valued at about $26,000. Curio Wealth LLC acquired a new stake in shares of Thomson Reuters in the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. purchased a new position in Thomson Reuters during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new position in Thomson Reuters during the fourth quarter worth $33,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Thomson Reuters by 60.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider’s stock valued at $58,000 after buying an additional 136 shares in the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TRI. Wells Fargo & Company boosted their price target on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Canaccord Genuity Group raised their price target on shares of Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Scotiabank upped their price objective on Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group raised their target price on Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, StockNews.com lowered Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $177.56.

Thomson Reuters Price Performance

TRI opened at $171.01 on Monday. The stock’s 50-day moving average price is $172.29 and its 200 day moving average price is $167.91. Thomson Reuters Co. has a 12-month low of $149.50 and a 12-month high of $180.42. The firm has a market cap of $76.97 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 5.67 and a beta of 0.70. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. As a group, sell-side analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 20th were given a dividend of $0.595 per share. The ex-dividend date was Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.39%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s dividend payout ratio is currently 48.67%.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.