Prudential PLC Increases Stock Position in Thomson Reuters Co. $TRI

Key Points

• Prudential PLC increased its stake in Thomson Reuters Co. by 40.1% in Q1, acquiring 2,022 additional shares, bringing its total to 7,065 shares valued at approximately $1.22 million.
• Several investors, including Mackenzie Financial Corp and GAMMA Investing LLC, made significant changes to their positions, with Mackenzie increasing its stake by 139.5% during Q4.
• Thomson Reuters reported earnings of $0.87 per share, exceeding expectations, and declared a quarterly dividend of $0.595 to be paid on September 10th.

Prudential PLC boosted its stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 40.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,065 shares of the business services provider's stock after purchasing an additional 2,022 shares during the period. Prudential PLC's holdings in Thomson Reuters were worth $1,219,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TRI. Brighton Jones LLC bought a new stake in shares of Thomson Reuters during the 4th quarter valued at $448,000. Invesco Ltd. grew its position in shares of Thomson Reuters by 5.6% during the 4th quarter. Invesco Ltd. now owns 144,229 shares of the business services provider's stock valued at $23,131,000 after acquiring an additional 7,590 shares during the period. Renaissance Technologies LLC grew its position in shares of Thomson Reuters by 16.4% during the 4th quarter. Renaissance Technologies LLC now owns 24,800 shares of the business services provider's stock valued at $3,977,000 after acquiring an additional 3,500 shares during the period. Barclays PLC grew its position in shares of Thomson Reuters by 49.9% during the 4th quarter. Barclays PLC now owns 53,233 shares of the business services provider's stock valued at $8,536,000 after acquiring an additional 17,717 shares during the period. Finally, Mariner LLC grew its position in shares of Thomson Reuters by 1.2% during the 4th quarter. Mariner LLC now owns 40,406 shares of the business services provider's stock valued at $6,481,000 after acquiring an additional 480 shares during the period. Institutional investors own 17.31% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TRI shares. Canaccord Genuity Group boosted their price objective on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. Scotiabank raised shares of Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $188.00 to $200.00 in a research report on Wednesday, August 6th. Wells Fargo & Company cut 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 report on Thursday, August 7th. Royal Bank Of Canada dropped 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 report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Thomson Reuters currently has an average rating of "Hold" and an average target price of $194.20.

Thomson Reuters Price Performance

Thomson Reuters stock traded up $0.32 during mid-day trading on Thursday, hitting $176.09. The stock had a trading volume of 990,273 shares, compared to its average volume of 888,035. The firm has a market capitalization of $79.35 billion, a P/E ratio of 36.01, a P/E/G ratio of 5.67 and a beta of 0.77. 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's 50 day moving average is $194.72 and its 200 day moving average is $185.34. Thomson Reuters Co. has a one year low of $151.60 and a one year high of $218.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.79 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Thomson Reuters's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. On average, sell-side analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a $0.595 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $2.38 annualized dividend and a yield of 1.4%. Thomson Reuters's payout ratio is presently 65.75%.

Thomson Reuters Company Profile

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.