1,120,950 Shares in Thomson Reuters Corp $TRI Purchased by BlackRock Inc.

Key Points

• BlackRock purchased 1.12 million Thomson Reuters shares worth approximately $91.5 million during the second quarter, giving it a 0.26% stake. Institutional investors collectively own 17.31% of the company.
• Analysts maintain a generally positive outlook, with Thomson Reuters receiving a “Moderate Buy” consensus rating and an average price target of $131.57, despite some target-price reductions.
• Thomson Reuters exceeded quarterly expectations, reporting $0.99 in earnings per share and $1.93 billion in revenue, up 9.5% year over year. The company also declared a quarterly dividend of $0.655 per share, equivalent to a 2.5% yield.

BlackRock Inc. purchased a new stake in Thomson Reuters Corp (NASDAQ:TRI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,120,950 shares of the company's stock, valued at approximately $91,548,000. BlackRock Inc. owned approximately 0.26% of Thomson Reuters as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Thomson Reuters by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company's stock worth $762,320,000 after acquiring an additional 85,684 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Thomson Reuters by 10.5% in the fourth quarter. Bank of New York Mellon Corp now owns 493,071 shares of the company's stock valued at $65,031,000 after acquiring an additional 46,680 shares during the last quarter. Alberta Investment Management Corp bought a new position in Thomson Reuters in the second quarter valued at $38,770,000. Benjamin Edwards Inc. raised its position in Thomson Reuters by 43.3% during the fourth quarter. Benjamin Edwards Inc. now owns 291,641 shares of the company's stock valued at $38,541,000 after purchasing an additional 88,085 shares in the last quarter. Finally, Vest Financial LLC lifted its stake in Thomson Reuters by 95.2% during the second quarter. Vest Financial LLC now owns 93,557 shares of the company's stock worth $7,641,000 after purchasing an additional 45,618 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRI has been the subject of a number of research reports. Weiss Ratings upgraded Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 24th. Barclays restated an "overweight" rating and issued a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. Scotiabank reaffirmed a "sector outperform" rating and issued a $135.00 target price on shares of Thomson Reuters in a research note on Thursday, August 6th. Canaccord Genuity Group reduced their price target on shares of Thomson Reuters from $134.00 to $132.50 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada boosted their price objective on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Thomson Reuters has an average rating of "Moderate Buy" and an average target price of $131.57.

Thomson Reuters Price Performance

TRI opened at $106.22 on Friday. 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 stock's 50 day simple moving average is $95.65 and its 200 day simple moving average is $92.46. The firm has a market cap of $46.27 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.56 and a beta of 0.75. Thomson Reuters Corp has a 1 year low of $76.28 and a 1 year high of $180.00.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The business's quarterly revenue was up 9.5% compared to the same quarter last year. As a group, analysts predict that Thomson Reuters Corp will post 4.45 earnings per share for the current year.

Thomson Reuters Announces Dividend

The company also recently disclosed 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. This represents a $2.62 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Thomson Reuters's dividend payout ratio is 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source