Plato Investment Management Ltd Buys 17,246 Shares of Thomson Reuters Corp $TRI

Key Points

• Plato Investment Management dramatically increased its Thomson Reuters stake, buying 17,246 shares in the fourth quarter and lifting its holdings to 17,535 shares worth about $2.33 million.
• Thomson Reuters reported strong quarterly results, with EPS of $1.23 and revenue of $2.04 billion, both above analyst expectations, while revenue rose 9.8% year over year.
• The company also announced a quarterly dividend of $0.655 per share, implying an annualized yield of 2.8%, while analysts currently rate the stock a Moderate Buy with an average price target of $144.54.

Plato Investment Management Ltd boosted its stake in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 5,967.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,535 shares of the company's stock after buying an additional 17,246 shares during the quarter. Plato Investment Management Ltd's holdings in Thomson Reuters were worth $2,328,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Ethic Inc. grew its position in Thomson Reuters by 21.8% during the fourth quarter. Ethic Inc. now owns 3,066 shares of the company's stock valued at $404,000 after buying an additional 548 shares during the period. Generali Asset Management SPA SGR grew its position in Thomson Reuters by 5.2% during the fourth quarter. Generali Asset Management SPA SGR now owns 11,585 shares of the company's stock valued at $1,528,000 after buying an additional 572 shares during the period. K.J. Harrison & Partners Inc bought a new position in Thomson Reuters during the fourth quarter valued at about $301,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Thomson Reuters by 6.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,333 shares of the company's stock worth $4,844,000 after acquiring an additional 2,324 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in Thomson Reuters in the 4th quarter worth about $43,000. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Stock Down 0.5%

TRI stock opened at $92.94 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.60 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $40.54 billion, a PE ratio of 27.04, a PEG ratio of 1.37 and a beta of 0.80. Thomson Reuters Corp has a twelve month low of $79.71 and a twelve month high of $218.42. The stock has a 50-day simple moving average of $94.16 and a two-hundred day simple moving average of $115.08.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.05. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 EPS. On average, equities analysts predict that Thomson Reuters Corp will post 4.46 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, May 20th. Thomson Reuters's payout ratio is presently 77.33%.

Analysts Set New Price Targets

Several brokerages recently weighed in on TRI. Scotiabank set a $138.00 price objective on Thomson Reuters and gave the stock a "sector outperform" rating in a report on Wednesday. Argus began coverage on Thomson Reuters in a report on Wednesday, April 22nd. They issued a "hold" rating for the company. JPMorgan Chase & Co. decreased their price objective on Thomson Reuters from $160.00 to $100.00 and set a "neutral" rating for the company in a report on Friday, February 6th. The Goldman Sachs Group set a $111.00 price objective on Thomson Reuters and gave the stock a "buy" rating in a report on Saturday, February 7th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $144.54.

Thomson Reuters Company Profile

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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