Prudential PLC Boosts Stock Position in Thomson Reuters Co. (NYSE: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 grew its stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 40.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,065 shares of the business services provider's stock after buying 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 reporting period.

A number of other large investors have also recently made changes to their positions in TRI. Mackenzie Financial Corp lifted its position in shares of Thomson Reuters by 139.5% during the 4th quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock valued at $1,370,564,000 after buying an additional 4,977,006 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Thomson Reuters by 15.7% during the 1st quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock valued at $951,477,000 after buying an additional 750,063 shares in the last quarter. Nuveen LLC purchased a new position in shares of Thomson Reuters during the 1st quarter valued at about $23,126,000. GAMMA Investing LLC lifted its position in shares of Thomson Reuters by 16,802.9% during the 1st quarter. GAMMA Investing LLC now owns 116,799 shares of the business services provider's stock valued at $20,181,000 after buying an additional 116,108 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in Thomson Reuters by 111.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 186,426 shares of the business services provider's stock worth $29,899,000 after purchasing an additional 98,441 shares in the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Scotiabank raised Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the stock from $188.00 to $200.00 in a report on Wednesday, August 6th. Wells Fargo & Company lowered their price target on Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Barclays boosted their price target on Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. TD Securities reduced their price objective on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada reduced their price objective on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $194.20.

Thomson Reuters Stock Performance

NYSE TRI opened at $171.32 on Friday. The company has a market cap of $77.20 billion, a P/E ratio of 35.03, a P/E/G ratio of 5.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The business's 50 day moving average price is $196.26 and its 200-day moving average price is $185.16. Thomson Reuters Co. has a fifty-two week low of $151.60 and a fifty-two week high of $218.42.

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

Thomson Reuters Announces Dividend

The business 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 dividend of $0.595 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $2.38 annualized dividend and a dividend yield of 1.4%. Thomson Reuters's payout ratio is currently 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.

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