Renaissance Technologies LLC Has $15.18 Million Stake in Thomson Reuters Corp $TRI

Key Points

• Renaissance Technologies increased its Thomson Reuters stake by 23.7% in the first quarter, bringing its holdings to 168,695 shares valued at approximately $15.18 million. Institutional investors and hedge funds collectively own 17.31% of the company.
• Thomson Reuters exceeded first-quarter expectations, reporting $1.23 in EPS versus the $1.18 consensus and $2.04 billion in revenue, up 9.8% year over year. The company also maintains a quarterly dividend of $0.655, equivalent to a 2.7% annual yield.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $143.92, despite the stock trading at $98.13 and recent target-price reductions from some analysts.

Renaissance Technologies LLC increased its position in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 23.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 168,695 shares of the company's stock after acquiring an additional 32,300 shares during the period. Renaissance Technologies LLC's holdings in Thomson Reuters were worth $15,179,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC bought a new stake in Thomson Reuters in the fourth quarter valued at approximately $30,000. Timmons Wealth Management LLC bought a new position in Thomson Reuters during the 4th quarter worth approximately $42,000. Montag A & Associates Inc. acquired a new position in shares of Thomson Reuters in the 4th quarter worth approximately $43,000. J.Safra Asset Management Corp acquired a new position in shares of Thomson Reuters in the 4th quarter worth approximately $56,000. Finally, Fifth Third Bancorp boosted its stake in shares of Thomson Reuters by 135.8% in the 1st quarter. Fifth Third Bancorp now owns 823 shares of the company's stock valued at $74,000 after purchasing an additional 474 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Thomson Reuters Stock Down 0.7%

Thomson Reuters stock opened at $98.13 on Friday. The company has a market capitalization of $42.75 billion, a PE ratio of 28.55, a PEG ratio of 1.47 and a beta of 0.77. Thomson Reuters Corp has a 12-month low of $76.28 and a 12-month high of $204.46. The firm's fifty day moving average is $87.45 and its 200 day moving average is $94.24. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.05. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The business had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $2 billion. During the same period last year, the company posted $1.12 earnings per share. The business's quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Thomson Reuters Corp will post 4.44 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a $0.655 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $2.62 annualized dividend and a dividend yield of 2.7%. Thomson Reuters's dividend payout ratio (DPR) is currently 76.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TRI shares. UBS Group set a $185.74 price objective on shares of Thomson Reuters and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Bank of America dropped their target price on shares of Thomson Reuters from $115.00 to $98.00 and set a "neutral" rating on the stock in a report on Tuesday, May 19th. Wells Fargo & Company set a $85.00 price target on shares of Thomson Reuters and gave the company an "equal weight" rating in a research report on Tuesday, June 30th. TD Securities reiterated a "buy" rating on shares of Thomson Reuters in a report on Wednesday, May 6th. Finally, Argus began coverage on Thomson Reuters in a research report on Wednesday, April 22nd. They issued a "hold" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $143.92.

Thomson Reuters 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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