26,794 Shares of Thomson Reuters Corp $TRI Acquired by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management acquired 26,794 shares of Thomson Reuters in the third quarter, valued at approximately $2.6 million. Institutional investors and hedge funds collectively own 17.31% of the company.
• Thomson Reuters reported quarterly earnings of $0.99 per share, exceeding estimates by $0.03, while revenue rose 9.5% year over year to $1.93 billion.
• The company pays a quarterly dividend of $0.655 per share, equivalent to a 2.4% annual yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $130.97.

Triasima Portfolio Management inc. purchased a new stake in Thomson Reuters Corp (NASDAQ:TRI - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 26,794 shares of the company's stock, valued at approximately $2,613,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TRI. Assenagon Asset Management S.A. increased its position in Thomson Reuters by 17.6% during the third quarter. Assenagon Asset Management S.A. now owns 4,997 shares of the company's stock worth $487,000 after purchasing an additional 748 shares during the last quarter. Ninety One UK Ltd purchased a new position in Thomson Reuters during the third quarter worth approximately $391,000. Burkett Asset Management Ltd raised its stake in Thomson Reuters by 1.6% during the third quarter. Burkett Asset Management Ltd now owns 15,627 shares of the company's stock worth $1,525,000 after purchasing an additional 253 shares during the period. GK Wealth Management LLC acquired a new position in shares of Thomson Reuters in the 3rd quarter valued at $53,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Thomson Reuters by 22.6% in the 3rd quarter. Versant Capital Management Inc now owns 3,401 shares of the company's stock valued at $332,000 after purchasing an additional 628 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Thomson Reuters Trading Up 2.4%

NASDAQ TRI opened at $107.89 on Friday. Thomson Reuters Corp has a one year low of $76.28 and a one year high of $164.30. The company's 50 day moving average price is $102.00 and its 200 day moving average price is $93.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $46.74 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 2.02 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last announced its quarterly earnings results 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 net margin of 21.22% and a return on equity of 15.82%. The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period in the previous year, the company posted $0.87 earnings per share. Thomson Reuters's revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts predict that Thomson Reuters Corp will post 4.48 EPS for the current year.

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a dividend of $0.6550 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.62 annualized dividend and a dividend yield of 2.4%. Thomson Reuters's payout ratio is presently 69.68%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Thomson Reuters from $140.00 to $130.00 and set an "overweight" rating for the company in a research note on Tuesday, September 8th. Canaccord Genuity Group dropped their price objective on Thomson Reuters from $134.00 to $132.50 and set a "buy" rating for the company in a report on Thursday, August 6th. Scotia cut 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. Royal Bank Of Canada lifted their target price on Thomson Reuters from $121.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Finally, Scotiabank reiterated a "sector outperform" rating and issued a $135.00 target price on shares of Thomson Reuters in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Thomson Reuters has an average rating of "Moderate Buy" and a consensus target price of $130.97.

About Thomson Reuters

Thomson Reuters Corporation is a global content and technology company that provides trusted information, software, and services to professionals and organizations. Its offerings are designed to support legal, tax, accounting, corporate, government, and media customers with research, workflow management, compliance, and decision-making.

The company serves legal professionals through products such as Westlaw, Practical Law, and CoCounsel, its generative artificial intelligence legal assistant.

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