Thomson Reuters Co. $TRI Shares Acquired by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. increased its stake in Thomson Reuters Co. by 36.5% in Q2, holding 42,311 shares valued at approximately $8.49 million.
• Equities analysts have upgraded Thomson Reuters’ ratings, with Scotiabank raising its price target to $200.00 and Wells Fargo increasing targets to $212.00.
• Thomson Reuters recently reported earnings of $0.87 per share, exceeding estimates, and declared a quarterly dividend of $0.595, reflecting a yield of 1.6%.

Shell Asset Management Co. boosted its position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 36.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 42,311 shares of the business services provider's stock after acquiring an additional 11,305 shares during the quarter. Shell Asset Management Co.'s holdings in Thomson Reuters were worth $8,491,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TRI. Cullen Frost Bankers Inc. boosted its position in Thomson Reuters by 772.2% in the first quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider's stock valued at $27,000 after buying an additional 139 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Thomson Reuters in the second quarter worth $37,000. SBI Securities Co. Ltd. raised its holdings in shares of Thomson Reuters by 41.3% during the first quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider's stock worth $41,000 after purchasing an additional 69 shares during the last quarter. Fifth Third Bancorp lifted its position in Thomson Reuters by 42.8% during the first quarter. Fifth Third Bancorp now owns 484 shares of the business services provider's stock valued at $84,000 after purchasing an additional 145 shares during the period. Finally, Whittier Trust Co. boosted its holdings in Thomson Reuters by 1,008.9% in the first quarter. Whittier Trust Co. now owns 621 shares of the business services provider's stock valued at $107,000 after purchasing an additional 565 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TRI shares. Scotiabank upgraded Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $188.00 to $200.00 in a research note on Wednesday, August 6th. Wells Fargo & Company raised shares of Thomson Reuters from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $187.00 to $212.00 in a research note on Tuesday, September 9th. Morgan Stanley decreased their target price on shares of Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating for the company in a research note on Thursday, September 11th. National Bankshares restated an "outperform" rating on shares of Thomson Reuters in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada decreased their price objective on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $202.82.

Thomson Reuters Trading Down 0.6%

Shares of Thomson Reuters stock opened at $152.03 on Tuesday. Thomson Reuters Co. has a 1-year low of $149.88 and a 1-year high of $218.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The stock has a market cap of $68.26 billion, a P/E ratio of 31.09, a P/E/G ratio of 5.67 and a beta of 0.74. The stock's 50 day simple moving average is $173.29 and its 200-day simple moving average is $183.93.

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

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $0.595 dividend. This represents a $2.38 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, August 19th. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.