Magnetar Financial LLC Boosts Stake in Thomson Reuters Co. $TRI

Key Points

• Magnetar Financial LLC significantly increased its stake in Thomson Reuters Co. by 632.7% in the first quarter, bringing its total holdings to 62,316 shares valued at approximately $10.77 million.
• Thomson Reuters reported earnings per share (EPS) of $0.87 for the last quarter, exceeding analysts' expectations of $0.83, along with a year-over-year revenue increase of 2.6%.
• The company announced a quarterly dividend of $0.595 per share, which equates to an annualized dividend yield of 1.3%, with a payout ratio of 65.75%.

Magnetar Financial LLC lifted its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 632.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,316 shares of the business services provider's stock after buying an additional 53,811 shares during the period. Magnetar Financial LLC's holdings in Thomson Reuters were worth $10,767,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in shares of Thomson Reuters by 1.5% in the 1st quarter. Rhumbline Advisers now owns 4,456 shares of the business services provider's stock worth $770,000 after acquiring an additional 68 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Thomson Reuters by 41.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider's stock worth $41,000 after acquiring an additional 69 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Thomson Reuters by 25.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider's stock worth $71,000 after acquiring an additional 84 shares in the last quarter. Compound Planning Inc. raised its position in shares of Thomson Reuters by 5.5% in the 1st quarter. Compound Planning Inc. now owns 1,919 shares of the business services provider's stock worth $332,000 after acquiring an additional 100 shares in the last quarter. Finally, Sara Bay Financial grew its stake in Thomson Reuters by 3.3% during the 1st quarter. Sara Bay Financial now owns 3,275 shares of the business services provider's stock worth $560,000 after buying an additional 104 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TRI has been the subject of a number of research analyst reports. Scotiabank raised Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $188.00 to $200.00 in a report on Wednesday, August 6th. Royal Bank Of Canada lowered their target price on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a research note on Thursday, August 7th. Canaccord Genuity Group upped their price target on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Wells Fargo & Company lowered their price objective on shares of Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Finally, TD Securities raised Thomson Reuters from a "hold" rating to a "buy" rating and upped their target price for the company from $275.00 to $285.00 in a research report on Thursday. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $201.90.

Thomson Reuters Price Performance

Shares of Thomson Reuters stock traded down $0.65 during trading hours on Monday, reaching $177.61. The stock had a trading volume of 1,132,455 shares, compared to its average volume of 894,063. Thomson Reuters Co. has a twelve month low of $151.60 and a twelve month high of $218.42. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $80.04 billion, a PE ratio of 36.32, a PEG ratio of 5.67 and a beta of 0.77. The stock's 50 day moving average is $192.48 and its 200 day moving average is $185.55.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the firm posted $0.85 EPS. The business's revenue was up 2.6% on a year-over-year basis. Equities analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, August 19th. Thomson Reuters's dividend payout ratio is 65.75%.

About Thomson Reuters

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.