12,643 Shares in Thomson Reuters Corp $TRI Acquired by ICONIQ Capital LLC

Key Points

• ICONIQ Capital acquired 12,643 Thomson Reuters shares in the second quarter, valued at approximately $1.03 million. Institutional investors collectively own 17.31% of the company.
• Analyst sentiment remains largely positive, with a consensus rating of “Moderate Buy” and an average price target of $142.83, despite some recent target reductions and one sell rating.
• Thomson Reuters exceeded quarterly expectations, reporting $0.99 in EPS and $1.93 billion in revenue, while revenue increased 9.5% year over year. The company also declared a quarterly dividend of $0.655 per share, yielding about 2.5% annually.

ICONIQ Capital LLC purchased a new stake in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,643 shares of the company's stock, valued at approximately $1,033,000.

Several other institutional investors have also recently bought and sold shares of the business. TLT Family Holdco ULC acquired a new position in Thomson Reuters in the second quarter worth $865,442,000. SEG Family Corp. acquired a new position in Thomson Reuters during the 2nd quarter worth about $659,930,000. Invesco Ltd. lifted its position in Thomson Reuters by 461.1% during the 3rd quarter. Invesco Ltd. now owns 2,253,243 shares of the company's stock worth $349,996,000 after buying an additional 1,851,677 shares in the last quarter. Cibc World Market Inc. bought a new stake in Thomson Reuters during the 2nd quarter worth about $100,711,000. Finally, Norges Bank bought a new stake in Thomson Reuters during the 4th quarter worth about $153,417,000. Institutional investors own 17.31% of the company's stock.

Analyst Ratings Changes

TRI has been the subject of several research reports. Weiss Ratings cut shares of Thomson Reuters from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, June 23rd. TD Securities reiterated a "buy" rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Scotia decreased their price target on shares of Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating on the stock in a research note on Thursday, August 6th. Wells Fargo & Company set a $85.00 price target on shares of Thomson Reuters and gave the company an "equal weight" rating in a report on Tuesday, June 30th. Finally, Canaccord Genuity Group dropped their price objective on shares of Thomson Reuters from $134.00 to $132.50 and set a "buy" rating for the company in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.83.

Thomson Reuters Price Performance

Shares of TRI stock opened at $105.53 on Monday. The stock has a 50-day moving average price of $93.08 and a 200 day moving average price of $91.99. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12. The firm has a market cap of $45.97 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.55 and a beta of 0.75. Thomson Reuters Corp has a 12 month low of $76.28 and a 12 month high of $180.00.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $1.89 billion. During the same period in the previous year, the business posted $0.87 EPS. The company's quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts expect that Thomson Reuters Corp will post 4.45 EPS for the current year.

Thomson Reuters Dividend Announcement

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

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