Thomson Reuters Co. $TRI Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 47.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,264,235 shares of the business services provider’s stock after buying an additional 404,158 shares during the period. JPMorgan Chase & Co.’s holdings in Thomson Reuters were worth $196,374,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. AGF Management Ltd. grew its holdings in shares of Thomson Reuters by 186.8% during the third quarter. AGF Management Ltd. now owns 870,312 shares of the business services provider’s stock valued at $135,592,000 after buying an additional 566,908 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in Thomson Reuters during the 3rd quarter worth about $3,485,000. JCIC Asset Management Inc. purchased a new position in Thomson Reuters during the 3rd quarter valued at about $4,015,000. Profund Advisors LLC purchased a new position in Thomson Reuters during the 3rd quarter valued at about $5,061,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Thomson Reuters in the 3rd quarter valued at about $10,117,000. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Down 2.3%

Thomson Reuters stock opened at $83.20 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a 1-year low of $81.91 and a 1-year high of $218.42. The firm’s fifty day simple moving average is $115.79 and its 200-day simple moving average is $142.42. The company has a market capitalization of $37.03 billion, a P/E ratio of 17.01, a P/E/G ratio of 5.67 and a beta of 0.79.

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

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.655 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.1%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.60. Thomson Reuters’s payout ratio is currently 78.68%.

Wall Street Analyst Weigh In

Several analysts recently commented on TRI shares. UBS Group set a $131.50 price target on shares of Thomson Reuters in a report on Friday, February 6th. Scotiabank reissued an “outperform” rating and set a $156.00 target price (down previously from $189.00) on shares of Thomson Reuters in a research note on Friday, February 6th. Canaccord Genuity Group dropped their price target on shares of Thomson Reuters from $174.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. JPMorgan Chase & Co. cut their price objective on Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Finally, Canadian Imperial Bank of Commerce set a $183.00 target price on Thomson Reuters and gave the company an “outperformer” rating in a research note on Friday, January 16th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Thomson Reuters has a consensus rating of “Moderate Buy” and a consensus target price 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.