FORA Capital LLC Buys New Shares in Thomson Reuters Corp $TRI

Key Points

• FORA Capital LLC purchased a new stake of 10,504 Thomson Reuters shares in Q3, valued at approximately $1.63 million.
• Invesco substantially increased its position in Q3, buying 1,851,677 shares to hold 2,253,243 shares worth about $350 million; overall institutional and hedge fund ownership stands at 17.31%.
• Thomson Reuters beat EPS estimates with $1.07 for the quarter and raised its quarterly dividend to $0.655 ($2.62 annualized, 2.7% yield); the stock trades near $96.34 with a market cap of $42.9 billion and an average analyst price target of $151.42 (Moderate Buy).

FORA Capital LLC purchased a new stake in Thomson Reuters Corp (NASDAQ:TRI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,504 shares of the company's stock, valued at approximately $1,632,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jump Financial LLC lifted its stake in shares of Thomson Reuters by 72.6% in the third quarter. Jump Financial LLC now owns 31,129 shares of the company's stock valued at $4,835,000 after buying an additional 13,090 shares during the period. GeoWealth Management LLC increased its stake in Thomson Reuters by 231.5% during the third quarter. GeoWealth Management LLC now owns 1,714 shares of the company's stock valued at $266,000 after acquiring an additional 1,197 shares during the period. Entropy Technologies LP bought a new position in Thomson Reuters during the third quarter valued at about $1,223,000. Quadrature Capital Ltd acquired a new position in Thomson Reuters in the 3rd quarter valued at approximately $2,624,000. Finally, Invesco Ltd. lifted its position in shares of Thomson Reuters by 461.1% in the 3rd quarter. Invesco Ltd. now owns 2,253,243 shares of the company's stock worth $349,996,000 after acquiring an additional 1,851,677 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Trading Down 3.0%

Shares of TRI opened at $96.34 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.11. The stock has a market cap of $42.87 billion, a PE ratio of 28.93, a PEG ratio of 1.48 and a beta of 0.81. Thomson Reuters Corp has a 1 year low of $79.71 and a 1 year high of $218.42. The stock has a 50 day simple moving average of $106.39 and a 200-day simple moving average of $134.51.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. Thomson Reuters had a return on equity of 14.51% and a net margin of 20.09%.The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.01 billion.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were issued a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, February 17th. This is a positive change from Thomson Reuters's previous quarterly dividend of $0.60. Thomson Reuters's payout ratio is currently 78.68%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TRI shares. Canadian Imperial Bank of Commerce set a $183.00 price objective on Thomson Reuters and gave the stock an "outperformer" rating in a report on Friday, January 16th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Thomson Reuters in a research report on Monday, December 29th. BMO Capital Markets set a $165.00 price target on shares of Thomson Reuters in a research note on Friday, February 6th. Bank of America boosted their price target on shares of Thomson Reuters from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, The Goldman Sachs Group set a $111.00 price objective on shares of Thomson Reuters and gave the company a "buy" rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $151.42.

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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