Beacon Pointe Advisors LLC Invests $949,000 in Thomson Reuters Corp $TRI

Key Points

• Beacon Pointe Advisors acquired 11,625 Thomson Reuters shares during the second quarter, valued at approximately $949,000. Institutional investors collectively own 17.31% of TRI.
• Thomson Reuters reported quarterly EPS of $0.99, exceeding estimates by $0.03, while revenue rose 9.5% year over year to $1.93 billion.
• The company declared a quarterly dividend of $0.655 per share, equivalent to an annualized $2.62 payout and a 2.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $131.57.

Beacon Pointe Advisors LLC acquired a new position in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,625 shares of the company's stock, valued at approximately $949,000.

Several other large investors have also recently bought and sold shares of TRI. TLT Family Holdco ULC purchased a new stake in Thomson Reuters during the second quarter worth $865,442,000. SEG Family Corp. purchased a new position in shares of Thomson Reuters in the second quarter valued at $659,930,000. Invesco Ltd. increased its position in shares of Thomson Reuters by 461.1% in the third quarter. Invesco Ltd. now owns 2,253,243 shares of the company's stock valued at $349,996,000 after buying an additional 1,851,677 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Thomson Reuters during the 2nd quarter worth $107,223,000. Finally, Bank of America Corp DE acquired a new position in shares of Thomson Reuters during the 2nd quarter worth $104,104,000. Hedge funds and other institutional investors own 17.31% of the company's stock.

Thomson Reuters Trading Up 1.0%

Shares of TRI stock opened at $107.32 on Tuesday. The company has a market capitalization of $46.75 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 1.56 and a beta of 0.75. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $96.27 and a 200 day moving average price of $92.58. Thomson Reuters Corp has a twelve month low of $76.28 and a twelve month high of $180.00.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. The company had revenue of $1.93 billion during 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%.Thomson Reuters's revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. Research analysts forecast that Thomson Reuters Corp will post 4.45 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The company 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 dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Thomson Reuters's dividend payout ratio (DPR) is 69.68%.

Analyst Ratings Changes

TRI has been the topic of a number of research reports. Bank of America lowered their price objective on shares of Thomson Reuters from $115.00 to $98.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 19th. Scotia reduced their price target on shares of Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 6th. Scotiabank reiterated a "sector outperform" rating and issued a $135.00 price target on shares of Thomson Reuters in a research report on Thursday, August 6th. Weiss Ratings raised shares of Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 24th. Finally, Wells Fargo & Company set a $85.00 price objective on Thomson Reuters and gave the stock an "equal weight" rating in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $131.57.

Thomson Reuters Profile

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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