Prosperity Consulting Group LLC Buys 22,551 Shares of Thomson Reuters Corp $TRI

Key Points

• Prosperity Consulting Group LLC increased its Thomson Reuters stake by 469.2% in the first quarter, buying 22,551 additional shares to bring its total holdings to 27,357 shares valued at about $2.46 million.
• Thomson Reuters reported strong quarterly results, with EPS of $1.23 beating estimates and revenue of $2.04 billion topping forecasts; revenue rose 9.8% year over year.
• The company also paid a quarterly dividend of $0.655 per share, which annualizes to $2.62 per share for a 2.7% yield, while analysts currently rate the stock a Moderate Buy with an average target price of $143.92.

Prosperity Consulting Group LLC boosted its stake in Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 469.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,357 shares of the company's stock after purchasing an additional 22,551 shares during the quarter. Prosperity Consulting Group LLC's holdings in Thomson Reuters were worth $2,462,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC purchased a new stake in shares of Thomson Reuters in the fourth quarter worth about $448,000. AQR Capital Management LLC grew its holdings in Thomson Reuters by 30.3% during the 1st quarter. AQR Capital Management LLC now owns 17,152 shares of the company's stock valued at $2,964,000 after buying an additional 3,988 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Thomson Reuters during the 1st quarter valued at approximately $205,000. Prudential Financial Inc. bought a new stake in Thomson Reuters in the 2nd quarter worth approximately $234,000. Finally, Daiwa Securities Group Inc. bought a new stake in Thomson Reuters in the 2nd quarter worth approximately $646,000. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $96.20 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $41.89 billion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 1.47 and a beta of 0.77. Thomson Reuters Corp has a 1-year low of $76.28 and a 1-year high of $211.46. The company's 50-day moving average is $85.46 and its 200 day moving average is $96.82.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 earnings per share. Research analysts forecast that Thomson Reuters Corp will post 4.44 EPS for the current year.

Thomson Reuters Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a dividend of $0.655 per share. The ex-dividend date was Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a yield of 2.7%. Thomson Reuters's payout ratio is presently 76.16%.

Analyst Ratings Changes

Several analysts have recently issued reports on TRI shares. Barclays reaffirmed an "overweight" rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. Argus initiated coverage on shares of Thomson Reuters in a research report on Wednesday, April 22nd. They issued a "hold" rating on the stock. UBS Group set a $185.74 price target on shares of Thomson Reuters and gave the company a "buy" rating in a research note on Thursday, April 23rd. Wells Fargo & Company set a $85.00 price objective on shares of Thomson Reuters and gave the company an "equal weight" rating in a research report on Tuesday, June 30th. Finally, Scotiabank set a $138.00 price objective on shares of Thomson Reuters and gave the stock a "sector outperform" rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Thomson Reuters presently has an average rating of "Moderate Buy" and an average target price of $143.92.

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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