Rakuten Investment Management Inc. Makes New Investment in Thomson Reuters Corp $TRI

Rakuten Investment Management Inc. bought a new stake in Thomson Reuters Corp (NASDAQ:TRI) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 32,687 shares of the company’s stock, valued at approximately $3,146,000.

Other hedge funds have also made changes to their positions in the company. Landaas & Co. WI ADV purchased a new stake in shares of Thomson Reuters in the 3rd quarter worth about $236,000. SilverOak Wealth Management LLC acquired a new position in Thomson Reuters during the third quarter worth about $333,000. Sumitomo Mitsui Trust Group Inc. raised its position in Thomson Reuters by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 62,952 shares of the company’s stock worth $6,127,000 after acquiring an additional 208 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Thomson Reuters during the third quarter worth about $16,809,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Thomson Reuters by 2.8% in the third quarter. ProShare Advisors LLC now owns 364,115 shares of the company’s stock valued at $35,439,000 after purchasing an additional 9,914 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank Of Canada raised their price objective on shares of Thomson Reuters from $124.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 28th. RBC Dominion Securities lifted their price objective on Thomson Reuters from $124.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 28th. Weiss Ratings raised Thomson Reuters from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 15th. Finally, Jefferies Financial Group assumed coverage on Thomson Reuters in a report on Tuesday, October 20th. They set a “buy” rating and a $130.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $128.96.

Thomson Reuters Price Performance

TRI stock traded down $5.54 during trading on Friday, hitting $112.57. The stock had a trading volume of 1,291,915 shares, compared to its average volume of 1,675,711. The stock has a market cap of $48.78 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 2.35 and a beta of 0.69. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51. The company’s 50 day moving average price is $105.91 and its two-hundred day moving average price is $97.09. Thomson Reuters Corp has a 1-year low of $76.28 and a 1-year high of $142.04.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.08). The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.80 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%. Thomson Reuters’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 earnings per share. On average, sell-side analysts forecast that Thomson Reuters Corp will post 4.33 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be paid a dividend of $0.6550 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.62 annualized dividend and a dividend yield of 2.3%. Thomson Reuters’s dividend payout ratio is presently 73.18%.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information, software and services for legal, tax, accounting, compliance, risk and financial professionals. Its products help customers research complex issues, manage workflows and make informed decisions.

Key offerings include Westlaw and Practical Law for legal research and practice management, Checkpoint for tax and accounting research, and ONESOURCE for tax and trade compliance. The company also provides news and information through Reuters, its global news organization.

Thomson Reuters was formed in 2008 through the combination of Thomson Corporation and Reuters Group.