BCV Asset Management Inc. Makes New $36.15 Million Investment in Thomson Reuters Corp $TRI

Key Points

• BCV Asset Management initiated a $36.15 million position in Thomson Reuters, buying 369,015 shares, or about 0.09% of the company.
• Analysts have a “Moderate Buy” consensus and an average price target of $128.96; 11 analysts rate the stock Buy and six rate it Hold.
• Thomson Reuters missed quarterly EPS expectations ($0.81 versus $0.89), while revenue reached $1.80 billion. The company also announced a $500 million share-repurchase program and a quarterly dividend of $0.655 per share.

BCV Asset Management Inc. bought a new stake in Thomson Reuters Corp (NASDAQ:TRI - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 369,015 shares of the company's stock, valued at approximately $36,147,000. BCV Asset Management Inc. owned 0.09% of Thomson Reuters at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Western Wealth Management LLC purchased a new stake in Thomson Reuters during the 1st quarter valued at about $48,000. GK Wealth Management LLC purchased a new position in shares of Thomson Reuters in the third quarter worth about $53,000. Continuum Advisory LLC purchased a new position in shares of Thomson Reuters in the second quarter worth about $45,000. Westside Investment Management Inc. raised its stake in shares of Thomson Reuters by 80.7% in the third quarter. Westside Investment Management Inc. now owns 600 shares of the company's stock worth $59,000 after purchasing an additional 268 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. lifted its holdings in shares of Thomson Reuters by 310.5% during the third quarter. Eurizon Capital SGR S.p.A. now owns 784 shares of the company's stock worth $76,000 after purchasing an additional 593 shares during the period. Hedge funds and other institutional investors own 17.31% of the company's stock.

Analyst Upgrades and Downgrades

TRI has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Thomson Reuters from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Wednesday, November 4th. Jefferies Financial Group assumed coverage on shares of Thomson Reuters in a report on Tuesday, October 20th. They issued a "buy" rating and a $130.00 price target on the stock. Barclays reduced their price target on shares of Thomson Reuters from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, September 8th. Wall Street Zen cut shares of Thomson Reuters from a "hold" rating to a "sell" rating in a research note on Saturday, November 7th. Finally, Royal Bank Of Canada upped their price objective on shares of Thomson Reuters from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday, October 28th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $128.96.

Thomson Reuters Stock Performance

NASDAQ TRI opened at $109.30 on Friday. The stock has a 50-day simple moving average of $106.04 and a two-hundred day simple moving average of $96.73. The firm has a market capitalization of $47.38 billion, a P/E ratio of 30.52, a PEG ratio of 2.23 and a beta of 0.69. Thomson Reuters Corp has a fifty-two week low of $76.28 and a fifty-two week high of $142.04. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.08.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.89 by ($0.08). The company had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.80 billion. Thomson Reuters had a return on equity of 15.72% and a net margin of 20.02%. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 EPS. On average, equities analysts forecast that Thomson Reuters Corp will post 4.20 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a $0.6550 dividend. This represents a $2.62 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, November 18th. Thomson Reuters's dividend payout ratio is currently 73.18%.

Thomson Reuters announced that its Board of Directors has approved a share repurchase program on Wednesday, November 11th that permits the company to buy back $500 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.1% of its stock through open market purchases. Share buyback programs are usually a sign that the company's board believes its shares are undervalued.

Thomson Reuters Profile

Thomson Reuters is a global provider of information, software and services for legal, tax, accounting, compliance, risk and financial professionals. Its products help customers research complex issues, manage workflows and make informed decisions. Key offerings include Westlaw and Practical Law for legal research and practice management, Checkpoint for tax and accounting research, and ONESOURCE for tax and trade compliance. The company also provides news and information through Reuters, its global news organization.

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