Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Thomson Reuters Corp $TRI

Mirae Asset Global Investments Co. Ltd. lifted its position in Thomson Reuters Corp (NASDAQ:TRI) by 44,306.9% during the second quarter, HoldingsChannel.com reports. The fund owned 154,536 shares of the company’s stock after acquiring an additional 154,188 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Thomson Reuters were worth $12,621,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TRI. E Fund Management Hong Kong Co. Ltd. raised its stake in Thomson Reuters by 31.8% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 2,033 shares of the company’s stock valued at $166,000 after purchasing an additional 491 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its stake in Thomson Reuters by 12.5% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 45,844 shares of the company’s stock worth $4,125,000 after purchasing an additional 5,094 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Thomson Reuters by 9.7% during the 1st quarter. NewEdge Advisors LLC now owns 5,280 shares of the company’s stock worth $475,000 after purchasing an additional 469 shares during the last quarter. Western Wealth Management LLC purchased a new stake in shares of Thomson Reuters during the first quarter worth $48,000. Finally, Bank of America Corp DE grew its holdings in shares of Thomson Reuters by 48.7% during the first quarter. Bank of America Corp DE now owns 1,627,069 shares of the company’s stock worth $146,404,000 after buying an additional 532,803 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TRI shares. Canaccord Genuity Group decreased their price target on shares of Thomson Reuters from $134.00 to $132.50 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Scotiabank reaffirmed a “sector outperform” rating and set a $135.00 price objective on shares of Thomson Reuters in a research note on Thursday, August 6th. UBS Group set a $185.74 price objective on shares of Thomson Reuters and gave the company a “buy” rating in a report on Thursday, April 23rd. Royal Bank Of Canada raised their target price on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company set a $85.00 target price on Thomson Reuters and gave the stock an “equal weight” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.83.

Thomson Reuters Stock Up 3.4%

Shares of TRI opened at $106.07 on Friday. Thomson Reuters Corp has a 52-week low of $76.28 and a 52-week 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 stock has a fifty day simple moving average of $90.59 and a two-hundred day simple moving average of $92.57. The company has a market capitalization of $46.21 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 1.51 and a beta of 0.75.

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

Thomson Reuters Dividend Announcement

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

Thomson Reuters Company 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.