Thomson Reuters Corp $TRI Stock: Pictet Asset Management Holding SA Cuts Position

Pictet Asset Management Holding SA lowered its stake in shares of Thomson Reuters Corp (NASDAQ:TRI) by 40.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 184,245 shares of the company’s stock after selling 126,760 shares during the period. Pictet Asset Management Holding SA’s holdings in Thomson Reuters were worth $17,971,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. increased its position in shares of Thomson Reuters by 80.7% in the third quarter. Westside Investment Management Inc. now owns 600 shares of the company’s stock valued at $59,000 after buying an additional 268 shares in the last quarter. Rakuten Investment Management Inc. purchased a new stake in shares of Thomson Reuters in the third quarter valued at about $3,146,000. Landaas & Co. WI ADV purchased a new stake in shares of Thomson Reuters in the third quarter valued at about $236,000. SilverOak Wealth Management LLC purchased a new position in shares of Thomson Reuters during the 3rd quarter worth approximately $333,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Thomson Reuters by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 62,952 shares of the company’s stock worth $6,127,000 after purchasing an additional 208 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters News Summary

Investors following TRI have been watching these news items:

• Positive Sentiment: The board authorized a share buyback of up to $500 million. Repurchases return capital to shareholders and may signal management confidence in the company’s value. Thomson Reuters To Repurchase Up to $500 Million in Shares
• Positive Sentiment: CUBE’s AI agents are being connected with Thomson Reuters CoCounsel Legal to provide expert-checked global regulatory intelligence. The integration could enhance the appeal of CoCounsel to corporate legal teams and law firms. CUBE Powers Thomson Reuters CoCounsel Legal With Global Regulatory Intelligence
• Neutral Sentiment: CEO Steve Hasker and CFO Gary Bischoping are scheduled to present at the TD Securities Technology Conference on November 23. The announcement provides an opportunity for investor updates but contains no new financial guidance. Thomson Reuters to Present at TD Securities Technology Conference

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $109.25 on Friday. The company has a market cap of $47.36 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 2.22 and a beta of 0.69. Thomson Reuters Corp has a 12 month low of $76.28 and a 12 month high of $142.04. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s 50-day moving average is $106.09 and its 200-day moving average is $96.79.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings data 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). Thomson Reuters had a return on equity of 15.72% and a net margin of 20.02%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Thomson Reuters’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Thomson Reuters Corp will post 4.20 earnings per share for the current year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $0.6550 per share. The ex-dividend date is Wednesday, November 18th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.4%. Thomson Reuters’s dividend payout ratio (DPR) is currently 73.18%.

Thomson Reuters declared that its board has authorized a share repurchase plan on Wednesday, November 11th that permits the company to repurchase $500 million in shares. This repurchase authorization permits the company to buy up to 1.1% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TRI. Morgan Stanley set a $110.00 price target on Thomson Reuters and gave the stock an “equal weight” rating in a research report on Tuesday, October 13th. RBC Dominion Securities boosted their price objective on shares of Thomson Reuters from $124.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, October 28th. Royal Bank Of Canada boosted their price target on Thomson Reuters from $124.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, October 28th. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a research note on Thursday, August 6th. Finally, Canaccord Genuity Group upped their target price on Thomson Reuters from $129.50 to $130.50 and gave the company a “buy” rating in a research note on Wednesday, November 4th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.96.

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.