Allianz Asset Management GmbH Has $20.83 Million Stock Position in Thomson Reuters Co. $TRI

Key Points

• Allianz Asset Management GmbH significantly increased its holdings in Thomson Reuters by 962.0%, owning 103,800 shares worth about $20.83 million after purchasing 94,026 additional shares in the second quarter.
• Analysts have upgraded Thomson Reuters stock ratings multiple times, with CIBC, TD Securities, and Wells Fargo raising their ratings and target prices recently, reflecting a general positive outlook with an average target price of $202.64.
• Thomson Reuters reported earnings of $0.87 per share for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.595, indicating a dividend yield of 1.5%.

Allianz Asset Management GmbH boosted its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 962.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,800 shares of the business services provider's stock after purchasing an additional 94,026 shares during the period. Allianz Asset Management GmbH's holdings in Thomson Reuters were worth $20,831,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Thomson Reuters in the 1st quarter valued at about $626,000. Goldman Sachs Group Inc. grew its position in shares of Thomson Reuters by 36.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,588,508 shares of the business services provider's stock valued at $274,462,000 after buying an additional 421,279 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Thomson Reuters by 7.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,277 shares of the business services provider's stock valued at $1,948,000 after buying an additional 776 shares during the last quarter. Gulf International Bank UK Ltd grew its position in shares of Thomson Reuters by 2,723.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 8,978 shares of the business services provider's stock valued at $1,551,000 after buying an additional 8,660 shares during the last quarter. Finally, Callan Capital LLC bought a new stake in shares of Thomson Reuters in the 1st quarter valued at about $244,000. Institutional investors and hedge funds own 17.31% of the company's stock.

Wall Street Analyst Weigh In

TRI has been the topic of a number of analyst reports. CIBC upgraded Thomson Reuters from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 19th. TD Securities upgraded Thomson Reuters from a "hold" rating to a "buy" rating and upped their price target for the company from $275.00 to $285.00 in a research report on Thursday, August 28th. Wells Fargo & Company upgraded Thomson Reuters from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $187.00 to $212.00 in a research report on Tuesday, September 9th. Scotiabank upgraded Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and upped their target price for the company from $188.00 to $200.00 in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group set a $186.00 target price on Thomson Reuters and gave the company a "buy" rating in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Thomson Reuters currently has an average rating of "Moderate Buy" and an average target price of $202.64.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock opened at $158.53 on Monday. The company has a market cap of $71.18 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. Thomson Reuters Co. has a 52 week low of $149.47 and a 52 week high of $218.42. The business has a 50 day moving average price of $166.08 and a 200-day moving average price of $182.73. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.79 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.Thomson Reuters's revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $0.85 earnings per share. Equities analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Thomson Reuters's dividend payout ratio (DPR) is presently 65.75%.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.

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