Bastion Asset Management Inc. Buys New Holdings in Thomson Reuters Corp $TRI

Key Points

• Bastion Asset Management opened a new position in Thomson Reuters, buying 38,658 shares valued at about $3.48 million in the first quarter.
• Several other institutional investors also increased or initiated stakes, and hedge funds and other institutions now own 17.31% of Thomson Reuters stock.
• Thomson Reuters reported better-than-expected quarterly results, with EPS of $1.23 versus $1.18 expected and revenue of $2.04 billion, while analysts currently rate the stock Moderate Buy with a consensus price target of $143.92.

Bastion Asset Management Inc. purchased a new position in Thomson Reuters Corp (NASDAQ:TRI - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 38,658 shares of the company's stock, valued at approximately $3,481,000.

A number of other institutional investors also recently bought and sold shares of the business. Empowered Funds LLC acquired a new stake in Thomson Reuters during the 4th quarter valued at approximately $30,000. Timmons Wealth Management LLC acquired a new stake in shares of Thomson Reuters in the fourth quarter worth $42,000. Montag A & Associates Inc. purchased a new position in shares of Thomson Reuters during the fourth quarter worth $43,000. J.Safra Asset Management Corp purchased a new position in shares of Thomson Reuters during the fourth quarter worth $56,000. Finally, Hantz Financial Services Inc. lifted its position in Thomson Reuters by 1,011.7% during the fourth quarter. Hantz Financial Services Inc. now owns 667 shares of the company's stock valued at $88,000 after purchasing an additional 607 shares during the period. 17.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on TRI shares. Scotiabank set a $138.00 price target on shares of Thomson Reuters and gave the company a "sector outperform" rating in a report on Wednesday, May 6th. UBS Group set a $185.74 price objective on Thomson Reuters and gave the company a "buy" rating in a research note on Thursday, April 23rd. Bank of America decreased their price objective on Thomson Reuters from $115.00 to $98.00 and set a "neutral" rating for the company in a report on Tuesday, May 19th. Barclays restated an "overweight" rating and issued a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. Finally, Argus started coverage on Thomson Reuters in a research report on Wednesday, April 22nd. They set a "hold" rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $143.92.

Thomson Reuters Stock Performance

Shares of NASDAQ TRI opened at $98.82 on Friday. The company has a market capitalization of $43.03 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 1.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 0.60. The company's fifty day moving average price is $85.40 and its 200 day moving average price is $96.82. Thomson Reuters Corp has a 1 year low of $76.28 and a 1 year high of $211.85.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, beating 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 company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $2 billion. During the same quarter in the previous year, the company earned $1.12 earnings per share. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts predict that Thomson Reuters Corp will post 4.44 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Wednesday, May 20th. Thomson Reuters's payout ratio is currently 76.16%.

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.

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