Invesco Ltd. Buys 10,085 Shares of Thomson Reuters Co. $TRI

Key Points

• Invesco Ltd. increased its stake in Thomson Reuters by 7.0%, owning 154,314 shares worth approximately $26.66 million as of the end of the first quarter.
• Analysts have mixed ratings for Thomson Reuters, with five giving it a Buy rating and seven a Hold rating, while the average target price is $194.20.
• The company reported a quarterly EPS of $0.87, exceeding estimates, and announced a dividend of $0.595 to be paid on September 10th.

Invesco Ltd. raised its holdings in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 154,314 shares of the business services provider's stock after acquiring an additional 10,085 shares during the period. Invesco Ltd.'s holdings in Thomson Reuters were worth $26,662,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its stake in Thomson Reuters by 139.5% in 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 boosted its position in Thomson Reuters by 15.7% in 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 during the period. Vanguard Group Inc. lifted its position in shares of Thomson Reuters by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 5,476,600 shares of the business services provider's stock worth $945,069,000 after purchasing an additional 94,758 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Thomson Reuters by 1.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,537,660 shares of the business services provider's stock valued at $437,985,000 after acquiring an additional 44,898 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Thomson Reuters by 5.5% in the fourth quarter. Bank of America Corp DE now owns 1,182,938 shares of the business services provider's stock valued at $189,720,000 after acquiring an additional 61,235 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Price Performance

Shares of Thomson Reuters stock traded down $1.87 during mid-day trading on Monday, reaching $176.68. 786,134 shares of the stock were exchanged, compared to its average volume of 889,572. Thomson Reuters Co. has a fifty-two week low of $151.60 and a fifty-two week high of $218.42. The firm has a 50-day simple moving average of $194.00 and a 200 day simple moving average of $185.59. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The company has a market cap of $79.62 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77.

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 the consensus estimate of $0.83 by $0.04. The company 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 last year, the firm earned $0.85 EPS. On average, sell-side analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a $0.595 dividend. This represents a $2.38 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, August 19th. Thomson Reuters's payout ratio is currently 65.75%.

Analysts Set New Price Targets

A number of research firms recently commented on TRI. Barclays boosted their price objective on shares of Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. CIBC upgraded shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 19th. Royal Bank Of Canada dropped their price target on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 7th. Finally, Canaccord Genuity Group boosted their price target on shares of Thomson Reuters from $181.00 to $182.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Thomson Reuters currently has a consensus rating of "Hold" and a consensus target price of $194.20.

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.