Pictet Asset Management Holding SA boosted its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 188,117 shares of the business services provider's stock after acquiring an additional 21,016 shares during the period. Pictet Asset Management Holding SA's holdings in Thomson Reuters were worth $30,191,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Thomson Reuters by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 318,713 shares of the business services provider's stock valued at $54,421,000 after buying an additional 10,016 shares during the last quarter. Fisher Asset Management LLC purchased a new position in shares of Thomson Reuters during the 3rd quarter worth approximately $377,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Thomson Reuters by 13.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,530 shares of the business services provider's stock valued at $14,776,000 after purchasing an additional 10,293 shares during the last quarter. Icon Wealth Advisors LLC lifted its stake in Thomson Reuters by 21.2% during the third quarter. Icon Wealth Advisors LLC now owns 1,487 shares of the business services provider's stock worth $254,000 after purchasing an additional 260 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Thomson Reuters during the third quarter worth $3,420,000. Institutional investors and hedge funds own 17.31% of the company's stock.
Thomson Reuters Stock Performance
Shares of NYSE TRI traded up $1.77 during midday trading on Thursday, reaching $177.30. 397,648 shares of the company were exchanged, compared to its average volume of 375,135. The stock has a market cap of $79.80 billion, a P/E ratio of 36.19, a PEG ratio of 5.67 and a beta of 0.70. Thomson Reuters Co. has a 1 year low of $149.50 and a 1 year high of $180.42. The stock has a fifty day simple moving average of $173.02 and a 200 day simple moving average of $167.96. 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 - Get Free Report) TSE: TRI last announced its earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. On average, research analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.
Thomson Reuters Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 20th were issued a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Thursday, February 20th. 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%.
Wall Street Analyst Weigh In
TRI has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on Thomson Reuters from $165.00 to $177.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. CIBC increased their target price on shares of Thomson Reuters from $165.00 to $174.00 in a report on Friday, February 7th. The Goldman Sachs Group upped their price objective on Thomson Reuters from $168.00 to $188.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. StockNews.com downgraded Thomson Reuters from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $175.00 to $177.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $177.56.
Check Out Our Latest Research Report on TRI
About Thomson Reuters
(
Free Report)
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.
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