Waterfront Wealth Inc. Invests $835,000 in Thomson Reuters Corp $TRI

Waterfront Wealth Inc. acquired a new position in Thomson Reuters Corp (NASDAQ:TRI) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,284 shares of the company’s stock, valued at approximately $835,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Empowered Funds LLC acquired a new stake in Thomson Reuters in the fourth quarter valued at approximately $30,000. Timmons Wealth Management LLC acquired a new position in shares of Thomson Reuters during the 4th quarter worth $42,000. Montag A & Associates Inc. bought a new position in shares of Thomson Reuters during the 4th quarter valued at $43,000. J.Safra Asset Management Corp bought a new position in shares of Thomson Reuters during the 4th quarter valued at $56,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Thomson Reuters by 1,011.7% during the 4th quarter. Hantz Financial Services Inc. now owns 667 shares of the company’s stock valued at $88,000 after purchasing an additional 607 shares in the last quarter. Institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a report on Wednesday, May 6th. Weiss Ratings lowered Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Bank of America cut their target price on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, May 19th. Argus initiated coverage on Thomson Reuters in a research report on Wednesday, April 22nd. They issued a “hold” rating for the company. Finally, UBS Group set a $185.74 price target on Thomson Reuters and gave the stock a “buy” rating in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.92.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock traded up $0.84 on Friday, reaching $89.65. The stock had a trading volume of 1,532,256 shares, compared to its average volume of 1,852,788. The business’s 50-day moving average price is $85.34 and its two-hundred day moving average price is $98.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 0.60. Thomson Reuters Corp has a fifty-two week low of $76.28 and a fifty-two week high of $218.42. The stock has a market cap of $39.11 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 1.32 and a beta of 0.77.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.05. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the firm earned $1.12 EPS. Thomson Reuters’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts forecast that Thomson Reuters Corp will post 4.44 EPS for the current year.

Thomson Reuters Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Wednesday, May 20th. Thomson Reuters’s dividend payout ratio is 76.16%.

Thomson Reuters 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.