Alberta Investment Management Corp Invests $38.77 Million in Thomson Reuters Corp $TRI

Key Points

• Alberta Investment Management Corp. bought a new $38.77 million stake in Thomson Reuters, acquiring 474,751 shares, or approximately 0.11% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $142.83, despite some target reductions and one sell rating.
• Thomson Reuters exceeded quarterly earnings and revenue expectations, reporting $0.99 EPS and $1.93 billion in revenue, while declaring a $0.655 quarterly dividend yielding approximately 2.5% annually.

Alberta Investment Management Corp bought a new stake in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 474,751 shares of the company's stock, valued at approximately $38,770,000. Alberta Investment Management Corp owned about 0.11% of Thomson Reuters as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRI. Public Sector Pension Investment Board grew its stake in shares of Thomson Reuters by 0.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 13,098 shares of the company's stock worth $2,629,000 after buying an additional 100 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Thomson Reuters by 1.8% in the 4th quarter. Evergreen Capital Management LLC now owns 5,743 shares of the company's stock worth $757,000 after purchasing an additional 101 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Thomson Reuters by 0.6% in the 3rd quarter. Natixis Advisors LLC now owns 16,424 shares of the company's stock worth $2,551,000 after purchasing an additional 103 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Thomson Reuters by 1.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,834 shares of the company's stock valued at $885,000 after purchasing an additional 130 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its position in shares of Thomson Reuters by 1.4% during the 1st quarter. Kestra Advisory Services LLC now owns 9,682 shares of the company's stock valued at $871,000 after purchasing an additional 134 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Argus began coverage on Thomson Reuters in a research report on Wednesday, April 22nd. They issued a "hold" rating for the company. Barclays reiterated an "overweight" rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. UBS Group set a $185.74 target price on shares of Thomson Reuters and gave the stock a "buy" rating in a report on Thursday, April 23rd. Scotia dropped their price target 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. Finally, Weiss Ratings downgraded shares of Thomson Reuters from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $142.83.

Thomson Reuters Stock Performance

NASDAQ TRI opened at $103.61 on Monday. Thomson Reuters Corp has a one year low of $76.28 and a one year high of $180.00. 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 company has a market capitalization of $45.13 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.52 and a beta of 0.75. The company's 50-day simple moving average is $90.94 and its two-hundred day simple moving average is $92.42.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The company's quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $0.87 earnings per share. Equities analysts forecast that Thomson Reuters Corp will post 4.45 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Thomson Reuters's payout ratio is presently 69.68%.

About Thomson Reuters

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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