Mitsubishi UFJ Asset Management Co. Ltd. Invests $2.93 Million in Thomson Reuters Corp $TRI

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Thomson Reuters Corp (NASDAQ:TRI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 35,908 shares of the company’s stock, valued at approximately $2,933,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Public Sector Pension Investment Board lifted its position in shares of Thomson Reuters by 0.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 13,098 shares of the company’s stock valued at $2,629,000 after acquiring an additional 100 shares during the period. Evergreen Capital Management LLC lifted its holdings in shares of Thomson Reuters by 1.8% in the fourth quarter. Evergreen Capital Management LLC now owns 5,743 shares of the company’s stock valued at $757,000 after purchasing an additional 101 shares in the last quarter. Natixis Advisors LLC lifted its stake in Thomson Reuters by 0.6% during the 3rd quarter. Natixis Advisors LLC now owns 16,424 shares of the company’s stock valued at $2,551,000 after acquiring an additional 103 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Thomson Reuters by 1.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,834 shares of the company’s stock worth $885,000 after purchasing an additional 130 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its stake in shares of Thomson Reuters by 1.4% in the 1st quarter. Kestra Advisory Services LLC now owns 9,682 shares of the company’s stock worth $871,000 after buying an additional 134 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Price Performance

Shares of Thomson Reuters stock opened at $105.53 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51. Thomson Reuters Corp has a one year low of $76.28 and a one year high of $180.00. The business’s 50 day simple moving average is $93.08 and its two-hundred day simple moving average is $92.12. The stock has a market capitalization of $45.97 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 1.55 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 EPS. Analysts forecast that Thomson Reuters Corp will post 4.45 EPS for the current year.

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, August 19th. Thomson Reuters’s dividend payout ratio is currently 69.68%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TRI. Royal Bank Of Canada boosted their price target on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Canaccord Genuity Group cut their price target on Thomson Reuters from $134.00 to $132.50 and set a “buy” rating for the company in a report on Thursday, August 6th. Barclays reaffirmed an “overweight” rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. Bank of America reduced their target price on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, May 19th. Finally, Scotia decreased their price target on shares of Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Thomson Reuters presently has an average rating of “Moderate Buy” and a consensus target price of $142.83.

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.