ICICI Prudential Asset Management Co Ltd Invests $1.08 Million in Thomson Reuters Co. $TRI

ICICI Prudential Asset Management Co Ltd bought a new stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,921 shares of the business services provider’s stock, valued at approximately $1,075,000.

A number of other institutional investors have also added to or reduced their stakes in TRI. TLT Family Holdco ULC bought a new position in Thomson Reuters in the second quarter worth approximately $865,442,000. LCC Family Corp. acquired a new position in shares of Thomson Reuters during the second quarter worth approximately $813,253,000. SEG Family Corp. bought a new position in shares of Thomson Reuters in the 2nd quarter worth $659,930,000. Norges Bank bought a new position in shares of Thomson Reuters in the 2nd quarter worth $275,036,000. Finally, HRT Financial LP grew its position in Thomson Reuters by 115.4% in the 2nd quarter. HRT Financial LP now owns 1,388,588 shares of the business services provider’s stock valued at $279,286,000 after purchasing an additional 743,923 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Stock Down 0.6%

TRI opened at $85.16 on Friday. Thomson Reuters Co. has a fifty-two week low of $81.91 and a fifty-two week high of $218.42. The firm has a market capitalization of $37.90 billion, a P/E ratio of 17.42, a PEG ratio of 5.67 and a beta of 0.79. The company’s 50-day moving average is $116.74 and its 200 day moving average is $143.26. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94.

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

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be given a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 3.1%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, February 17th. Thomson Reuters’s payout ratio is presently 78.68%.

Analyst Upgrades and Downgrades

TRI has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Scotiabank reissued an “outperform” rating and set a $156.00 target price (down from $189.00) on shares of Thomson Reuters in a research report on Friday, February 6th. The Goldman Sachs Group set a $111.00 price target on shares of Thomson Reuters and gave the company a “buy” rating in a research report on Saturday, February 7th. Morgan Stanley set a $116.00 price target on Thomson Reuters in a research note on Friday, February 6th. Finally, UBS Group set a $131.50 price objective on Thomson Reuters in a report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.42.

Thomson Reuters Profile

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.