Allianz Asset Management GmbH Lowers Stake in Thomson Reuters Corp $TRI

Key Points

• Allianz Asset Management cut its Thomson Reuters stake by 97.3% in the second quarter, selling 269,995 shares and retaining 7,380 shares valued at approximately $603,000.
• Analysts maintain a generally positive view, with Thomson Reuters holding a consensus “Moderate Buy” rating and an average price target of $131.57, despite recent target reductions from Barclays and Canaccord Genuity.
• Thomson Reuters exceeded quarterly expectations with $0.99 in EPS and $1.93 billion in revenue, up 9.5% year over year. The company also declared a quarterly dividend of $0.655, equal to a 2.7% annualized yield.

Allianz Asset Management GmbH decreased its position in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 97.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,380 shares of the company's stock after selling 269,995 shares during the period. Allianz Asset Management GmbH's holdings in Thomson Reuters were worth $603,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Amundi grew its holdings in Thomson Reuters by 41.0% in the 2nd quarter. Amundi now owns 564,556 shares of the company's stock valued at $46,107,000 after buying an additional 164,034 shares during the period. HighTower Advisors LLC increased its position in Thomson Reuters by 8.9% during the second quarter. HighTower Advisors LLC now owns 7,609 shares of the company's stock worth $621,000 after purchasing an additional 625 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in Thomson Reuters by 15.0% during the second quarter. Concurrent Investment Advisors LLC now owns 7,063 shares of the company's stock worth $577,000 after purchasing an additional 923 shares during the last quarter. NEOS Investment Management LLC raised its stake in Thomson Reuters by 10.1% during the second quarter. NEOS Investment Management LLC now owns 263,473 shares of the company's stock worth $21,518,000 after purchasing an additional 24,264 shares during the period. Finally, Continuum Advisory LLC purchased a new stake in shares of Thomson Reuters during the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 17.31% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on TRI shares. Barclays dropped their price objective on Thomson Reuters from $140.00 to $130.00 and set an "overweight" rating for the company in a report on Tuesday. Canaccord Genuity Group reduced their target price on Thomson Reuters from $134.00 to $132.50 and set a "buy" rating on the stock in a report on Thursday, August 6th. Wells Fargo & Company set a $85.00 price target on Thomson Reuters and gave the company an "equal weight" rating in a research report on Tuesday, June 30th. Weiss Ratings upgraded Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 24th. Finally, TD Securities reiterated a "buy" rating on shares of Thomson Reuters in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Thomson Reuters currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.57.

Thomson Reuters Price Performance

Shares of NASDAQ:TRI opened at $96.98 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12. The firm has a 50-day simple moving average of $99.37 and a 200 day simple moving average of $93.42. Thomson Reuters Corp has a fifty-two week low of $76.28 and a fifty-two week high of $174.45. The company has a market cap of $42.25 billion, a PE ratio of 25.82, a P/E/G ratio of 1.89 and a beta of 0.74.

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 (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The business's revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. On average, sell-side analysts anticipate that Thomson Reuters Corp will post 4.48 EPS for the current year.

Thomson Reuters Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, August 19th. Thomson Reuters's dividend payout ratio (DPR) is currently 69.68%.

Thomson Reuters Profile

Thomson Reuters Corporation is a global provider of information, software, and technology solutions for professionals and institutions. Its products and services support legal professionals, corporations, tax and accounting firms, governments, and media organizations, helping customers manage regulatory requirements, research information, analyze data, and improve workflow efficiency.

The company's offerings include legal research and practice-management solutions, tax and accounting software, corporate compliance and risk-management tools, and products designed for government and regulatory users.

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