Thomson Reuters Corp $TRI Shares Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments increased its Thomson Reuters stake by 44,306.9% in the second quarter, acquiring 154,188 additional shares for a total holding valued at approximately $12.6 million. Institutional investors collectively own 17.31% of the company.
• Thomson Reuters beat quarterly expectations, reporting $0.99 EPS versus the $0.96 consensus and revenue of $1.93 billion, up 9.5% year over year. Analysts maintain a consensus “Moderate Buy” rating with a $142.83 price target.
• The company declared a quarterly dividend of $0.655 per share, equivalent to $2.62 annually and a 2.5% yield, with payment scheduled for September 10 to shareholders of record as of August 19.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 44,306.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 154,536 shares of the company's stock after buying an additional 154,188 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Thomson Reuters were worth $12,621,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TRI. E Fund Management Hong Kong Co. Ltd. raised its position in Thomson Reuters by 31.8% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 2,033 shares of the company's stock valued at $166,000 after acquiring an additional 491 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its position in Thomson Reuters by 12.5% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 45,844 shares of the company's stock worth $4,125,000 after purchasing an additional 5,094 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Thomson Reuters by 9.7% during the 1st quarter. NewEdge Advisors LLC now owns 5,280 shares of the company's stock worth $475,000 after purchasing an additional 469 shares during the period. Western Wealth Management LLC purchased a new position in shares of Thomson Reuters during the 1st quarter valued at approximately $48,000. Finally, Bank of America Corp DE increased its holdings in shares of Thomson Reuters by 48.7% during the 1st quarter. Bank of America Corp DE now owns 1,627,069 shares of the company's stock valued at $146,404,000 after purchasing an additional 532,803 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Analyst Upgrades and Downgrades

TRI has been the subject of several analyst reports. TD Securities reiterated a "buy" rating on shares of Thomson Reuters in a research note on Thursday, August 6th. Scotiabank reaffirmed a "sector outperform" rating and issued a $135.00 price objective on shares of Thomson Reuters in a report on Thursday, August 6th. Wells Fargo & Company set a $85.00 price objective on shares of Thomson Reuters and gave the stock an "equal weight" rating in a research report on Tuesday, June 30th. Weiss Ratings lowered shares of Thomson Reuters from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, June 23rd. Finally, Scotia dropped their target price on Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $142.83.

Thomson Reuters Trading Up 3.4%

Shares of NASDAQ:TRI opened at $106.07 on Friday. Thomson Reuters Corp has a 1 year low of $76.28 and a 1 year high of $180.00. The firm has a market capitalization of $46.21 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 1.51 and a beta of 0.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51. The business's 50 day moving average price is $90.59 and its 200-day moving average price is $92.57.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 EPS. On average, equities research analysts forecast that Thomson Reuters Corp will post 4.45 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.655 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.5%. Thomson Reuters's payout ratio is currently 69.68%.

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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