ICONIQ Capital LLC Invests $1.03 Million in Thomson Reuters Corp $TRI

ICONIQ Capital LLC acquired a new position in shares of Thomson Reuters Corp (NASDAQ:TRI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,643 shares of the company’s stock, valued at approximately $1,033,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cibc World Market Inc. bought a new position in Thomson Reuters during the second quarter worth about $100,711,000. Sanctuary Advisors LLC acquired a new position in shares of Thomson Reuters during the 2nd quarter worth about $663,000. Bank of Nova Scotia bought a new stake in shares of Thomson Reuters in the 2nd quarter valued at about $51,193,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Thomson Reuters in the 2nd quarter valued at about $243,000. Finally, CFO4Life Group LLC bought a new stake in shares of Thomson Reuters in the 2nd quarter valued at about $239,000. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Shares of TRI opened at $105.53 on Monday. The firm has a market cap of $45.97 billion, a P/E ratio of 28.09, a PEG ratio of 1.55 and a beta of 0.75. Thomson Reuters Corp has a twelve month low of $76.28 and a twelve month high of $180.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51. The firm’s 50 day moving average price is $93.08 and its two-hundred day moving average price is $91.99.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $0.87 earnings per share. On average, analysts forecast that Thomson Reuters Corp will post 4.45 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TRI. Canaccord Genuity Group reduced their price objective on shares of Thomson Reuters from $134.00 to $132.50 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Barclays restated an “overweight” rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Bank of America reduced their price target on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 19th. Finally, Weiss Ratings lowered shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. One equities research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Thomson Reuters presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.83.

Thomson Reuters Company 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.