32,687 Shares in Thomson Reuters Corp $TRI Purchased by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management initiated a position in Thomson Reuters, buying 32,687 shares worth approximately $3.15 million in the third quarter.
• Analyst sentiment remains positive: 11 analysts rate the stock Buy and six Hold, producing a Moderate Buy consensus and an average price target of $128.96.
• Thomson Reuters reported quarterly EPS of $0.81, below the $0.89 consensus, while revenue of $1.80 billion matched expectations and grew 2.9% year over year.

Rakuten Investment Management Inc. purchased a new position in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 32,687 shares of the company's stock, valued at approximately $3,146,000.

A number of other institutional investors have also modified their holdings of TRI. Bank of America Corp DE raised its position in Thomson Reuters by 48.7% in 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 during the last quarter. First Trust Advisors LP grew its position in Thomson Reuters by 33.3% during the 1st quarter. First Trust Advisors LP now owns 1,588,756 shares of the company's stock worth $142,956,000 after purchasing an additional 397,150 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Thomson Reuters by 65.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,500,365 shares of the company's stock worth $135,297,000 after purchasing an additional 591,642 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in Thomson Reuters by 13.2% in the third quarter. TD Waterhouse Canada Inc. now owns 1,468,484 shares of the company's stock valued at $143,304,000 after purchasing an additional 171,375 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Thomson Reuters in the second quarter valued at $107,223,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on TRI shares. Barclays dropped their price target 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 reduced their target price on shares of Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 6th. Canaccord Genuity Group lifted their target price on shares of Thomson Reuters from $129.50 to $130.50 and gave the company a "buy" rating in a report on Wednesday. Royal Bank Of Canada boosted their price target on shares of Thomson Reuters from $124.00 to $130.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 28th. Finally, Morgan Stanley set a $110.00 price target on shares of Thomson Reuters and gave the stock an "equal weight" rating in a report on Tuesday, October 13th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $128.96.

Thomson Reuters Price Performance

Shares of TRI traded down $5.54 during trading hours on Friday, reaching $112.57. The company had a trading volume of 1,291,915 shares, compared to its average volume of 1,675,711. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. Thomson Reuters Corp has a 12-month low of $76.28 and a 12-month high of $142.04. The firm has a 50 day simple moving average of $105.91 and a 200-day simple moving average of $97.09. The company has a market capitalization of $48.78 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 2.35 and a beta of 0.69.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.89 by ($0.08). Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%. The company had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same period in the prior year, the firm posted $0.85 EPS. The firm's quarterly revenue was up 2.9% on a year-over-year basis. Research analysts expect that Thomson Reuters Corp will post 4.33 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be given a dividend of $0.6550 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, November 18th. Thomson Reuters's dividend payout ratio (DPR) is presently 73.18%.

Thomson Reuters Profile

Thomson Reuters is a global provider of information, software and services for legal, tax, accounting, compliance, risk and financial professionals. Its products help customers research complex issues, manage workflows and make informed decisions.

Key offerings include Westlaw and Practical Law for legal research and practice management, Checkpoint for tax and accounting research, and ONESOURCE for tax and trade compliance. The company also provides news and information through Reuters, its global news organization.

Thomson Reuters was formed in 2008 through the combination of Thomson Corporation and Reuters Group.

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