Mitsubishi UFJ Asset Management Co. Ltd. Acquires New Stake in Thomson Reuters Co. $TRI

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,009 shares of the business services provider’s stock, valued at approximately $5,593,000.

A number of other large investors have also made changes to their positions in the company. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Thomson Reuters by 4.6% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 1,414 shares of the business services provider’s stock worth $284,000 after purchasing an additional 62 shares during the period. SBI Securities Co. Ltd. grew its position in Thomson Reuters by 30.9% during the second quarter. SBI Securities Co. Ltd. now owns 309 shares of the business services provider’s stock valued at $62,000 after buying an additional 73 shares during the period. UMB Bank n.a. increased its holdings in Thomson Reuters by 21.2% during the third quarter. UMB Bank n.a. now owns 441 shares of the business services provider’s stock valued at $69,000 after buying an additional 77 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in Thomson Reuters by 50.0% in the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock worth $39,000 after acquiring an additional 83 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in Thomson Reuters by 3.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,274 shares of the business services provider’s stock worth $659,000 after acquiring an additional 95 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TRI. Royal Bank Of Canada raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating and set a $126.00 price objective for the company in a research report on Tuesday, February 10th. BMO Capital Markets set a $165.00 target price on Thomson Reuters in a research report on Friday, February 6th. Morgan Stanley set a $116.00 price target on Thomson Reuters in a research report on Friday, February 6th. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a research note on Friday, February 6th. Finally, UBS Group set a $131.50 price objective on Thomson Reuters in a research note on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $156.42.

Thomson Reuters Price Performance

NYSE:TRI opened at $99.49 on Tuesday. The business’s 50-day simple moving average is $111.26 and its two-hundred day simple moving average is $138.38. Thomson Reuters Co. has a 52 week low of $79.71 and a 52 week high of $218.42. The stock has a market cap of $44.28 billion, a PE ratio of 20.35, a P/E/G ratio of 5.67 and a beta of 0.79. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Thursday, February 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. As a group, analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.655 per share. The ex-dividend date is Tuesday, February 17th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.60. This represents a $2.62 annualized dividend and a dividend yield of 2.6%. Thomson Reuters’s dividend payout ratio (DPR) is 78.68%.

About Thomson Reuters

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.