Hsbc Holdings PLC Reduces Stock Position in Thomson Reuters Corp $TRI

Hsbc Holdings PLC cut its stake in Thomson Reuters Corp (NASDAQ:TRI) by 74.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 42,772 shares of the company’s stock after selling 122,893 shares during the quarter. Hsbc Holdings PLC’s holdings in Thomson Reuters were worth $5,652,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Corient Private Wealth LLC lifted its stake in Thomson Reuters by 5.9% in the 4th quarter. Corient Private Wealth LLC now owns 20,014 shares of the company’s stock worth $2,640,000 after purchasing an additional 1,107 shares in the last quarter. Invesco Ltd. raised its position in shares of Thomson Reuters by 9.9% in the fourth quarter. Invesco Ltd. now owns 2,476,965 shares of the company’s stock worth $326,687,000 after buying an additional 223,722 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Thomson Reuters in the fourth quarter worth $2,112,000. Coastal Bridge Advisors LLC boosted its stake in Thomson Reuters by 7.8% during the fourth quarter. Coastal Bridge Advisors LLC now owns 6,184 shares of the company’s stock valued at $816,000 after buying an additional 445 shares during the period. Finally, Empowered Funds LLC purchased a new position in Thomson Reuters during the fourth quarter worth about $30,000. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Stock Down 0.1%

Shares of NASDAQ TRI opened at $88.81 on Friday. The stock has a market capitalization of $38.67 billion, a P/E ratio of 25.84, a PEG ratio of 1.32 and a beta of 0.77. Thomson Reuters Corp has a one year low of $76.28 and a one year high of $218.42. The firm’s 50 day simple moving average is $85.44 and its two-hundred day simple moving average is $98.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the previous year, the business posted $1.12 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, analysts expect that Thomson Reuters Corp will post 4.44 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, May 20th. Thomson Reuters’s payout ratio is 76.16%.

Analysts Set New Price Targets

TRI has been the topic of several recent analyst reports. Bank of America lowered their price target on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, May 19th. UBS Group set a $185.74 price objective on Thomson Reuters and gave the stock a “buy” rating in a report on Thursday, April 23rd. Weiss Ratings cut shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Scotiabank set a $138.00 target price on shares of Thomson Reuters and gave the company a “sector outperform” rating in a research note on Wednesday, May 6th. Finally, TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.92.

About Thomson Reuters

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.