Nykredit A S Invests $4.59 Million in Thomson Reuters Corp $TRI

Key Points

• Nykredit A/S acquired 56,227 Thomson Reuters shares worth approximately $4.59 million during the second quarter, while institutional ownership currently stands at 17.31%.
• Thomson Reuters exceeded quarterly expectations, reporting $0.99 EPS and $1.93 billion in revenue; revenue increased 9.5% year over year.
• The company declared a quarterly dividend of $0.655, or $2.62 annually, producing a 2.5% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $131.57.

Nykredit A S bought a new position in Thomson Reuters Corp (NASDAQ:TRI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 56,227 shares of the company's stock, valued at approximately $4,591,000.

A number of other hedge funds have also recently made changes to their positions in the company. TLT Family Holdco ULC purchased a new position in shares of Thomson Reuters during the second quarter worth about $865,442,000. SEG Family Corp. purchased a new stake in shares of Thomson Reuters in the 2nd quarter valued at $659,930,000. Invesco Ltd. boosted its position in Thomson Reuters by 461.1% during 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 during the period. Canada Pension Plan Investment Board bought a new position in Thomson Reuters during the 2nd quarter worth approximately $107,223,000. Finally, Bank of America Corp DE bought a new position in shares of Thomson Reuters in the second quarter worth approximately $104,104,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $105.68 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a fifty day moving average price of $98.33 and a 200-day moving average price of $93.11. The company has a market cap of $46.04 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.04 and a beta of 0.74. Thomson Reuters Corp has a 1 year low of $76.28 and a 1 year high of $180.00.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company earned $0.87 earnings per share. The business's revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Thomson Reuters Corp will post 4.45 earnings per share for the current year.

Thomson Reuters Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, August 19th. Thomson Reuters's dividend payout ratio is presently 69.68%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company set a $85.00 target price on Thomson Reuters and gave the stock an "equal weight" rating in a research note on Tuesday, June 30th. TD Securities reaffirmed a "buy" rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Canaccord Genuity Group cut their price target on Thomson Reuters from $134.00 to $132.50 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Royal Bank Of Canada raised their price objective on shares of Thomson Reuters from $121.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings raised Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.57.

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.

Want to see what other hedge funds are holding TRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thomson Reuters Corp (NASDAQ:TRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source