Public Employees Retirement System of Ohio Lowers Stock Position in Thomson Reuters Co. $TRI

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in Thomson Reuters Co. by 21.5%, now holding 11,462 shares worth approximately $2.3 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Thomson Reuters, with recent price targets varying between $187.00 to $285.00.
• Thomson Reuters recently announced a quarterly dividend of $0.595, reflecting an annualized dividend yield of 1.6% and a payout ratio of 65.75%.

Public Employees Retirement System of Ohio cut its stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 21.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,462 shares of the business services provider's stock after selling 3,138 shares during the period. Public Employees Retirement System of Ohio's holdings in Thomson Reuters were worth $2,300,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. IMS Capital Management purchased a new stake in shares of Thomson Reuters during the 2nd quarter valued at $632,000. Ballentine Partners LLC grew its stake in shares of Thomson Reuters by 9.1% during the 2nd quarter. Ballentine Partners LLC now owns 5,034 shares of the business services provider's stock valued at $1,012,000 after buying an additional 420 shares during the period. Norden Group LLC grew its stake in shares of Thomson Reuters by 19.1% during the 2nd quarter. Norden Group LLC now owns 1,878 shares of the business services provider's stock valued at $378,000 after buying an additional 301 shares during the period. Wealth Advisory Solutions LLC purchased a new stake in shares of Thomson Reuters during the 2nd quarter valued at $280,000. Finally, Argent Capital Management LLC grew its stake in shares of Thomson Reuters by 3.1% during the 2nd quarter. Argent Capital Management LLC now owns 99,145 shares of the business services provider's stock valued at $19,941,000 after buying an additional 2,975 shares during the period. 17.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Securities raised shares of Thomson Reuters from a "hold" rating to a "buy" rating and upped their price target for the stock from $275.00 to $285.00 in a research report on Thursday, August 28th. Wells Fargo & Company raised Thomson Reuters from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $187.00 to $212.00 in a research report on Tuesday, September 9th. National Bankshares reissued an "outperform" rating on shares of Thomson Reuters in a research report on Thursday, July 10th. Morgan Stanley cut their price objective on Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 11th. Finally, CIBC raised Thomson Reuters from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 19th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Thomson Reuters presently has a consensus rating of "Moderate Buy" and an average target price of $202.82.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock opened at $151.52 on Friday. The firm has a market cap of $68.03 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. The firm's 50-day simple moving average is $175.28 and its 200-day simple moving average is $184.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. Thomson Reuters Co. has a 1 year low of $149.88 and a 1 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 EPS. Equities 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 announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, August 19th. Thomson Reuters's dividend payout ratio is 65.75%.

Thomson Reuters 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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