25,917 Thomson Reuters Corp $TRI Shares Sold by State Street Corp

Key Points

• State Street reduced its Thomson Reuters position by 14.4% in the second quarter, selling 25,917 shares and retaining 154,441 shares valued at approximately $12.6 million. Other institutions, including CIBC Asset Management and Bank of America, increased their holdings.
• Thomson Reuters shares opened at $98.99, while the company reported quarterly EPS of $0.99 and revenue of $1.93 billion, exceeding analyst estimates. Revenue increased 9.5% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $131.57. The company also pays a quarterly dividend of $0.655, equivalent to a 2.6% annual yield.

State Street Corp decreased its position in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 14.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,441 shares of the company's stock after selling 25,917 shares during the quarter. State Street Corp's holdings in Thomson Reuters were worth $12,613,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc lifted its position in Thomson Reuters by 0.7% during the fourth quarter. TD Asset Management Inc now owns 4,664,372 shares of the company's stock valued at $616,342,000 after acquiring an additional 33,418 shares during the last quarter. Geode Capital Management LLC boosted its stake in Thomson Reuters by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 2,224,706 shares of the company's stock worth $297,536,000 after purchasing an additional 76,800 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Thomson Reuters by 17.7% in the 4th quarter. CIBC Asset Management Inc now owns 1,607,468 shares of the company's stock worth $212,493,000 after purchasing an additional 242,214 shares in the last quarter. Norges Bank purchased a new stake in Thomson Reuters during the 4th quarter worth approximately $153,417,000. Finally, Bank of America Corp DE grew its position in 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 worth $146,404,000 after purchasing an additional 532,803 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company's stock.

Thomson Reuters Stock Down 1.3%

Shares of NASDAQ TRI opened at $98.99 on Friday. The firm has a market cap of $42.89 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 1.92 and a beta of 0.74. The company's 50-day simple moving average is $101.06 and its 200-day simple moving average is $93.39. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12. Thomson Reuters Corp has a 52-week low of $76.28 and a 52-week high of $164.30.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.Thomson Reuters's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. Equities analysts predict that Thomson Reuters Corp will post 4.48 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a $0.6550 dividend. This represents a $2.62 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, August 19th. Thomson Reuters's dividend payout ratio is currently 69.68%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays cut their target price on Thomson Reuters from $140.00 to $130.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 8th. Scotia lowered their price target on Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating for the company in a research report on Thursday, August 6th. TD Securities reiterated a "buy" rating on shares of Thomson Reuters in a research note on Thursday, August 6th. Scotiabank reissued a "sector outperform" rating and issued a $135.00 price objective on shares of Thomson Reuters in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Thomson Reuters currently has a consensus rating of "Moderate Buy" and an average target price of $131.57.

Thomson Reuters Profile

Thomson Reuters Corporation is a global provider of information, software, and technology solutions for professionals and institutions. Its products and services support legal professionals, corporations, tax and accounting firms, governments, and media organizations, helping customers manage regulatory requirements, research information, analyze data, and improve workflow efficiency.

The company's offerings include legal research and practice-management solutions, tax and accounting software, corporate compliance and risk-management tools, and products designed for government and regulatory users.

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