Goldman Sachs Group Inc. Has $274.46 Million Stake in Thomson Reuters Co. $TRI

Key Points

• Goldman Sachs Group Inc. increased its stake in Thomson Reuters by 36.1% in Q1, acquiring an additional 421,279 shares, bringing its total ownership to approximately 1.59 million shares valued at $274.46 million.
• Several analysts have revised their ratings for Thomson Reuters, with upgraded target prices; for example, Scotiabank raised its target from $188 to $200, reflecting a positive outlook on the stock.
• Thomson Reuters also announced a quarterly dividend of $0.595 per share, which is set to be paid on September 10th, representing an annual yield of 1.4%.

Goldman Sachs Group Inc. raised its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 36.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,588,508 shares of the business services provider's stock after purchasing an additional 421,279 shares during the quarter. Goldman Sachs Group Inc. owned 0.35% of Thomson Reuters worth $274,462,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mackenzie Financial Corp raised its holdings in shares of Thomson Reuters by 139.5% in the 4th quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock worth $1,370,564,000 after purchasing an additional 4,977,006 shares during the period. TD Asset Management Inc lifted its position in Thomson Reuters by 15.7% during the 1st quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock worth $951,477,000 after acquiring an additional 750,063 shares in the last quarter. Vanguard Group Inc. lifted its position in Thomson Reuters by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 5,476,600 shares of the business services provider's stock worth $945,069,000 after acquiring an additional 94,758 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Thomson Reuters by 1.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,537,660 shares of the business services provider's stock worth $437,985,000 after acquiring an additional 44,898 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Thomson Reuters by 1.0% during the 1st quarter. 1832 Asset Management L.P. now owns 1,665,117 shares of the business services provider's stock worth $287,699,000 after acquiring an additional 17,223 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRI has been the subject of a number of recent analyst reports. Wells Fargo & Company raised shares of Thomson Reuters from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $187.00 to $212.00 in a report on Tuesday. Royal Bank Of Canada cut their target price on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 7th. Morgan Stanley cut their target price on Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating on the stock in a research report on Thursday. Canaccord Genuity Group lifted their price target on Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a report on Thursday, August 7th. Finally, Scotiabank upgraded Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $188.00 to $200.00 in a research note on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Thomson Reuters has a consensus rating of "Moderate Buy" and an average price target of $202.82.

Thomson Reuters Trading Down 0.3%

TRI traded down $0.52 during mid-day trading on Friday, reaching $172.99. The stock had a trading volume of 617,589 shares, compared to its average volume of 896,501. The firm's fifty day simple moving average is $187.80 and its two-hundred day simple moving average is $185.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The stock has a market capitalization of $77.96 billion, a P/E ratio of 35.38, a P/E/G ratio of 5.67 and a beta of 0.74. Thomson Reuters Co. has a 52 week low of $151.60 and a 52 week high of $218.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The company had revenue of $1.81 billion for 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%.The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 EPS. On average, equities analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Thomson Reuters's dividend payout ratio (DPR) is presently 65.75%.

Thomson Reuters 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.