50,421 Shares in Thomson Reuters Co. $TRI Bought by Magnetar Financial LLC

Key Points

• Magnetar Financial bought a new stake of 50,421 shares in Thomson Reuters (TRI), valued at roughly $7.83 million, while institutional and hedge fund ownership of the stock is about 17.31%.
• Analysts hold a consensus "Moderate Buy" rating (11 Buys, 3 Holds) with a consensus price target of $151.42, and several recent upgrades including RBC moving TRI to "Outperform".
• Thomson Reuters raised its quarterly dividend to $0.655 (annualized $2.62), implying a yield of 2.5% and a payout ratio of about 78.7%.

Magnetar Financial LLC acquired a new stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 50,421 shares of the business services provider's stock, valued at approximately $7,832,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaCore Capital LLC bought a new stake in shares of Thomson Reuters in the second quarter valued at about $39,000. Cullen Frost Bankers Inc. grew its holdings in shares of Thomson Reuters by 50.0% during the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider's stock worth $39,000 after buying an additional 83 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Thomson Reuters by 100.0% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the business services provider's stock worth $52,000 after buying an additional 169 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Thomson Reuters in the 3rd quarter valued at approximately $57,000. Finally, SBI Securities Co. Ltd. raised its position in Thomson Reuters by 30.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 309 shares of the business services provider's stock valued at $62,000 after buying an additional 73 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TRI. Royal Bank Of Canada raised Thomson Reuters from a "sector perform" rating to an "outperform" rating and set a $126.00 price target for the company in a research report on Tuesday, February 10th. Canadian Imperial Bank of Commerce set a $183.00 price objective on shares of Thomson Reuters and gave the company an "outperformer" rating in a report on Friday, January 16th. TD Securities reissued a "buy" rating on shares of Thomson Reuters in a research report on Friday, February 6th. Scotiabank restated an "outperform" rating and set a $156.00 target price (down from $189.00) on shares of Thomson Reuters in a report on Friday, February 6th. Finally, The Goldman Sachs Group set a $111.00 target price on shares of Thomson Reuters and gave the company a "buy" rating in a research report on Saturday, February 7th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $151.42.

Thomson Reuters Stock Performance

Shares of NYSE TRI opened at $103.70 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The stock has a 50 day moving average price of $108.22 and a 200 day moving average price of $135.54. The stock has a market capitalization of $46.15 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 5.67 and a beta of 0.81. Thomson Reuters Co. has a 52 week low of $79.71 and a 52 week high of $218.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its quarterly earnings results on Thursday, February 5th. The business services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 EPS. Analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a yield of 2.5%. This is an increase from Thomson Reuters's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 17th. Thomson Reuters's payout ratio is currently 78.68%.

Thomson Reuters Profile

Thomson Reuters NYSE: TRI is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company's product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.

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