Swiss National Bank Has $47.67 Million Stock Position in Thomson Reuters Corp $TRI

Key Points

• Swiss National Bank increased its Thomson Reuters stake by 27% in the first quarter, buying 112,300 additional shares and bringing its holdings to 528,955 shares valued at about $47.7 million.
• Institutional interest remains active, with several other funds also raising or initiating positions; overall, hedge funds and institutions now own 17.31% of Thomson Reuters shares.
• The company recently beat quarterly expectations, reporting $1.23 EPS on revenue of $2.04 billion, while also paying a quarterly dividend of $0.655 per share for a 3.0% annualized yield.

Swiss National Bank lifted its position in Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 27.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 528,955 shares of the company's stock after acquiring an additional 112,300 shares during the period. Swiss National Bank owned about 0.12% of Thomson Reuters worth $47,673,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Thomson Reuters by 2.9% in the first quarter. Bessemer Group Inc. now owns 22,922 shares of the company's stock valued at $2,063,000 after purchasing an additional 654 shares in the last quarter. Prosperity Consulting Group LLC raised its position in Thomson Reuters by 469.2% during the first quarter. Prosperity Consulting Group LLC now owns 27,357 shares of the company's stock valued at $2,462,000 after buying an additional 22,551 shares during the period. Bastion Asset Management Inc. purchased a new stake in Thomson Reuters in the 1st quarter worth about $3,481,000. Wealthfront Advisers LLC boosted its position in Thomson Reuters by 93.7% during the 1st quarter. Wealthfront Advisers LLC now owns 3,809 shares of the company's stock worth $343,000 after acquiring an additional 1,843 shares during the period. Finally, Sanctuary Advisors LLC boosted its position in Thomson Reuters by 118.9% during the 1st quarter. Sanctuary Advisors LLC now owns 8,484 shares of the company's stock worth $763,000 after acquiring an additional 4,609 shares during the period. Institutional investors and hedge funds own 17.31% of the company's stock.

Analysts Set New Price Targets

TRI has been the topic of a number of research reports. Argus started coverage on Thomson Reuters in a report on Wednesday, April 22nd. They issued a "hold" rating on the stock. Bank of America lowered their price objective on shares of Thomson Reuters from $115.00 to $98.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 19th. UBS Group set a $185.74 target price on shares of Thomson Reuters and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Barclays reissued an "overweight" rating and set a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Thomson Reuters from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Thomson Reuters has an average rating of "Moderate Buy" and a consensus target price of $143.92.

Thomson Reuters Price Performance

Shares of TRI opened at $87.33 on Thursday. The firm has a market cap of $38.03 billion, a PE ratio of 25.41, a PEG ratio of 1.35 and a beta of 0.77. The firm's 50 day moving average price is $85.76 and its 200 day moving average price is $95.64. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 0.60. Thomson Reuters Corp has a twelve month low of $76.28 and a twelve month high of $206.45.

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

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, May 20th. Thomson Reuters's dividend payout ratio is presently 76.16%.

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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