Thomson Reuters Co. $TRI Shares Bought by Invesco Ltd.

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 stake 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 filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased 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 during the period. TD Asset Management Inc lifted its stake in shares of 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 worth $951,477,000 after acquiring an additional 750,063 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Thomson Reuters by 16,802.9% in the 1st quarter. GAMMA Investing LLC now owns 116,799 shares of the business services provider's stock valued at $20,181,000 after buying an additional 116,108 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Thomson Reuters by 111.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 186,426 shares of the business services provider's stock valued at $29,899,000 after buying an additional 98,441 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Thomson Reuters by 19.1% in the fourth quarter. Toronto Dominion Bank now owns 612,251 shares of the business services provider's stock valued at $98,187,000 after buying an additional 98,001 shares in the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. CIBC raised Thomson Reuters from a "neutral" rating to an "outperform" rating in a report on Tuesday. JPMorgan Chase & Co. upped their price target on Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Wall Street Zen cut Thomson Reuters from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. TD Securities lowered their target price on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a report on Thursday, August 7th. Finally, Scotiabank raised Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and lifted their price target for the stock from $188.00 to $200.00 in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $194.20.

Thomson Reuters Trading Up 1.4%

NYSE:TRI traded up $2.46 on Friday, reaching $178.55. The stock had a trading volume of 1,237,461 shares, compared to its average volume of 890,218. The company has a market cap of $80.46 billion, a price-to-earnings ratio of 36.51, a P/E/G ratio of 5.67 and a beta of 0.77. 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 firm's fifty day moving average is $194.39 and its two-hundred day moving average is $185.42. Thomson Reuters Co. has a 12-month low of $151.60 and a 12-month high of $218.42.

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

Thomson Reuters Announces Dividend

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