Pictet Asset Management Holding SA Increases Stock Holdings in Thomson Reuters Corp $TRI

Key Points

• Pictet Asset Management increased its stake in Thomson Reuters by 56%, buying an additional 128,835 shares to hold 359,050 shares (about 0.08% of the company) valued at roughly $47.45 million.
• Thomson Reuters slightly beat EPS expectations ($1.07 vs. $1.06) with revenue roughly in line at $2.01 billion, and recently raised its quarterly dividend to $0.655 (annualized $2.62), a ~2.8% yield.
• Wall Street has a consensus rating of Moderate Buy with an average target price of $148.23, though individual analyst targets and ratings vary significantly.

Pictet Asset Management Holding SA increased its position in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 56.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 359,050 shares of the company's stock after purchasing an additional 128,835 shares during the period. Pictet Asset Management Holding SA owned 0.08% of Thomson Reuters worth $47,452,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. grew its stake in shares of Thomson Reuters by 50.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company's stock valued at $39,000 after buying an additional 83 shares during the period. Westside Investment Management Inc. raised its position in shares of Thomson Reuters by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the company's stock valued at $52,000 after buying an additional 169 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Thomson Reuters during the 3rd quarter valued at approximately $57,000. UMB Bank n.a. lifted its holdings in Thomson Reuters by 21.2% in the third quarter. UMB Bank n.a. now owns 441 shares of the company's stock valued at $69,000 after acquiring an additional 77 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Thomson Reuters by 22.8% in the third quarter. Nisa Investment Advisors LLC now owns 609 shares of the company's stock valued at $95,000 after acquiring an additional 113 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Trading Up 3.8%

Shares of NASDAQ TRI opened at $93.29 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $41.32 billion, a PE ratio of 28.02, a PEG ratio of 1.33 and a beta of 0.83. Thomson Reuters Corp has a twelve month low of $79.71 and a twelve month high of $218.42. The stock has a fifty day simple moving average of $93.42 and a 200-day simple moving average of $117.11.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. Thomson Reuters had a return on equity of 14.51% and a net margin of 20.09%.The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.01 billion. On average, equities analysts forecast that Thomson Reuters Corp will post 4.39 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were given a dividend of $0.655 per share. This is a boost from Thomson Reuters's previous quarterly dividend of $0.60. This represents a $2.62 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, February 17th. Thomson Reuters's dividend payout ratio is currently 78.68%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TRI shares. Scotiabank reaffirmed an "outperform" rating and issued a $156.00 price target (down from $189.00) on shares of Thomson Reuters in a research note on Friday, February 6th. BMO Capital Markets set a $165.00 price objective on shares of Thomson Reuters in a report on Friday, February 6th. Barclays decreased their target price on shares of Thomson Reuters from $210.00 to $170.00 and set an "overweight" rating on the stock in a research report on Friday, April 10th. Wells Fargo & Company set a $87.00 price target on shares of Thomson Reuters and gave the company an "equal weight" rating in a research report on Tuesday, April 14th. Finally, Bank of America boosted their price target on shares of Thomson Reuters from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Thomson Reuters has a consensus rating of "Moderate Buy" and a consensus target price of $148.23.

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.

Want to see what other hedge funds are holding TRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thomson Reuters Corp (NASDAQ:TRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.