E Fund Management Co. Ltd. Takes Position in Thomson Reuters Corp $TRI

E Fund Management Co. Ltd. bought a new stake in Thomson Reuters Corp (NASDAQ:TRI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,338 shares of the company’s stock, valued at approximately $1,089,000.

Several other large investors also recently modified their holdings of the stock. Empowered Funds LLC bought a new position in Thomson Reuters in the 4th quarter worth approximately $30,000. Timmons Wealth Management LLC bought a new position in shares of Thomson Reuters in the fourth quarter worth $42,000. Montag A & Associates Inc. purchased a new position in shares of Thomson Reuters in the fourth quarter valued at $43,000. Western Wealth Management LLC bought a new stake in shares of Thomson Reuters during the 1st quarter valued at $48,000. Finally, J.Safra Asset Management Corp purchased a new stake in Thomson Reuters during the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Trading Up 4.0%

Shares of TRI opened at $104.95 on Thursday. The stock has a market capitalization of $45.72 billion, a P/E ratio of 27.94, a PEG ratio of 1.48 and a beta of 0.75. Thomson Reuters Corp has a twelve month low of $76.28 and a twelve month high of $180.00. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $92.09 and a two-hundred day simple moving average of $92.07.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company posted $0.87 EPS. Thomson Reuters’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, research analysts anticipate that Thomson Reuters Corp will post 4.45 EPS for the current year.

Thomson Reuters Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America reduced their price objective on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, May 19th. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Argus initiated coverage on Thomson Reuters in a research note on Wednesday, April 22nd. They set a “hold” rating for the company. Weiss Ratings cut Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Finally, Scotia lowered their price target on Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.83.

About Thomson Reuters

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.