Legal & General Group Plc Acquires 13,166 Shares of Thomson Reuters Corp $TRI

Key Points

• Legal & General Group Plc increased its stake in Thomson Reuters by 1.3%, acquiring 13,166 shares in Q3 to hold 1,022,981 shares (about 0.23% of the company) valued at roughly $158.9 million.
• Thomson Reuters raised its quarterly dividend to $0.655 (annualized $2.62) for a ~2.6% yield, and reported quarterly EPS of $1.07 (beating estimates by $0.01) with revenue of $2.01 billion in line with expectations.
• Several large institutions made major moves—First Trust Advisors added 814,393 shares to reach 1,074,988 shares and firms like TLT, LCC, SEG and Norges Bank established sizable new positions; institutional ownership stands at 17.31% and analysts have a consensus rating of Moderate Buy with an average target of $151.42.

Legal & General Group Plc grew its holdings in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,022,981 shares of the company's stock after purchasing an additional 13,166 shares during the quarter. Legal & General Group Plc owned about 0.23% of Thomson Reuters worth $158,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. TLT Family Holdco ULC acquired a new position in Thomson Reuters during the second quarter worth $865,442,000. LCC Family Corp. acquired a new stake in shares of Thomson Reuters in the second quarter worth about $813,253,000. SEG Family Corp. bought a new stake in shares of Thomson Reuters during the 2nd quarter worth about $659,930,000. Norges Bank acquired a new position in shares of Thomson Reuters during the 2nd quarter valued at about $275,036,000. Finally, First Trust Advisors LP raised its stake in shares of Thomson Reuters by 312.5% in the 3rd quarter. First Trust Advisors LP now owns 1,074,988 shares of the company's stock valued at $166,976,000 after acquiring an additional 814,393 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Thomson Reuters Stock Performance

TRI opened at $99.28 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.11. The stock's 50 day moving average price is $106.99 and its two-hundred day moving average price is $135.06. The firm has a market capitalization of $44.18 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.81. Thomson Reuters Corp has a 12-month low of $79.71 and a 12-month high of $218.42.

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

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were paid a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, February 17th. This is an increase from Thomson Reuters's previous quarterly dividend of $0.60. Thomson Reuters's dividend payout ratio is currently 78.68%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TRI shares. TD Securities reaffirmed a "buy" rating on shares of Thomson Reuters in a research report on Friday, February 6th. Bank of America boosted their price objective on shares of Thomson Reuters from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday. Canaccord Genuity Group decreased their price objective on shares of Thomson Reuters from $174.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, February 4th. Morgan Stanley set a $116.00 target price on shares of Thomson Reuters in a research note on Friday, February 6th. Finally, BMO Capital Markets set a $165.00 target price on shares of Thomson Reuters in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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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