Hsbc Holdings PLC Has $23.46 Million Stock Position in Thomson Reuters Co. $TRI

Key Points

• Hsbc Holdings PLC reduced its stake in Thomson Reuters Co. by 9.5% during the first quarter, resulting in holdings valued at $23.46 million.
• Thomson Reuters reported a quarterly earnings per share (EPS) of $0.87, exceeding estimates, with revenue up 2.6% year-over-year.
• The company declared a quarterly dividend of $0.595, with an ex-dividend date set for August 19th, reflecting an annual yield of 1.3%.

Hsbc Holdings PLC reduced its stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 9.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 136,120 shares of the business services provider's stock after selling 14,324 shares during the quarter. Hsbc Holdings PLC's holdings in Thomson Reuters were worth $23,456,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in Thomson Reuters in the 1st quarter valued at about $626,000. Cambridge Investment Research Advisors Inc. raised its holdings in Thomson Reuters by 7.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,277 shares of the business services provider's stock valued at $1,948,000 after acquiring an additional 776 shares during the period. Gulf International Bank UK Ltd raised its holdings in Thomson Reuters by 2,723.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 8,978 shares of the business services provider's stock valued at $1,551,000 after acquiring an additional 8,660 shares during the period. Callan Capital LLC bought a new position in Thomson Reuters in the 1st quarter valued at about $244,000. Finally, Ameriprise Financial Inc. raised its holdings in Thomson Reuters by 0.9% in the 4th quarter. Ameriprise Financial Inc. now owns 33,663 shares of the business services provider's stock valued at $5,683,000 after acquiring an additional 313 shares during the period. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Price Performance

Shares of NYSE TRI traded down $0.60 during trading hours on Friday, hitting $177.66. 214,117 shares of the stock were exchanged, compared to its average volume of 888,142. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The company has a market cap of $80.06 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. The company's fifty day simple moving average is $192.81 and its two-hundred day simple moving average is $185.44. Thomson Reuters Co. has a 1-year low of $151.60 and a 1-year high of $218.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the business posted $0.85 EPS. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a $0.595 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $2.38 dividend on an annualized basis and a yield of 1.3%. Thomson Reuters's dividend payout ratio (DPR) is currently 65.75%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TRI. National Bankshares reaffirmed an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. Wall Street Zen cut shares of Thomson Reuters from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Canaccord Genuity Group raised their target price on shares of Thomson Reuters from $181.00 to $182.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. TD Securities raised shares of Thomson Reuters from a "hold" rating to a "buy" rating and raised their target price for the stock from $275.00 to $285.00 in a report on Thursday. Finally, Royal Bank Of Canada lowered their target price on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $201.90.

Thomson Reuters Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.