Harvest Fund Management Co. Ltd Raises Position in Thomson Reuters Corp $TRI

Harvest Fund Management Co. Ltd boosted its holdings in Thomson Reuters Corp (NASDAQ:TRI) by 95,279.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 27,660 shares of the company’s stock after purchasing an additional 27,631 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Thomson Reuters were worth $4,296,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. AlphaCore Capital LLC bought a new position in shares of Thomson Reuters during the second quarter valued at about $39,000. Cullen Frost Bankers Inc. lifted its stake in shares of Thomson Reuters by 50.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock valued at $39,000 after acquiring an additional 83 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Thomson Reuters by 30.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 309 shares of the company’s stock valued at $62,000 after acquiring an additional 73 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in Thomson Reuters by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the company’s stock valued at $52,000 after acquiring an additional 169 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Thomson Reuters during the 3rd quarter valued at about $57,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Trading Down 3.0%

TRI opened at $96.34 on Friday. The firm has a market capitalization of $42.87 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 1.48 and a beta of 0.81. Thomson Reuters Corp has a one year low of $79.71 and a one year high of $218.42. The business has a 50 day simple moving average of $106.39 and a two-hundred day simple moving average of $134.51. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.64 and a quick ratio of 0.64.

Thomson Reuters (NASDAQ:TRI) last posted its earnings results on Thursday, February 5th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Thomson Reuters had a return on equity of 14.51% and a net margin of 20.09%.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.7%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 17th. Thomson Reuters’s dividend payout ratio (DPR) is presently 78.68%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Morgan Stanley set a $116.00 price target on Thomson Reuters in a research note on Friday, February 6th. Canaccord Genuity Group dropped their price objective on Thomson Reuters from $174.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. TD Securities restated a “buy” rating on shares of Thomson Reuters in a report on Friday, February 6th. Royal Bank Of Canada raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating and set a $126.00 target price on the stock in a research note on Tuesday, February 10th. Finally, Scotiabank reiterated an “outperform” rating and set a $156.00 price target (down from $189.00) on shares of Thomson Reuters in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.42.

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.