Thomson Reuters Corp $TRI Holdings Lifted by ProShare Advisors LLC

Key Points

• ProShare Advisors LLC increased its Thomson Reuters stake by 41.5% in the fourth quarter, buying 202,822 additional shares and bringing its total holding to 691,067 shares valued at about $91.1 million.
• Thomson Reuters reported better-than-expected quarterly results, posting EPS of $1.23 versus the $1.18 consensus and revenue of $2.04 billion, up 9.8% year over year.
• The company also announced a quarterly dividend of $0.655 per share, equal to an annualized payout of $2.62 and a dividend yield of about 3.0%.

ProShare Advisors LLC increased its holdings in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 41.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 691,067 shares of the company's stock after buying an additional 202,822 shares during the quarter. ProShare Advisors LLC owned 0.16% of Thomson Reuters worth $91,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TRI. TLT Family Holdco ULC purchased a new position in shares of Thomson Reuters during the second quarter valued at $865,442,000. SEG Family Corp. purchased a new position in shares of Thomson Reuters during the second quarter valued at $659,930,000. Invesco Ltd. grew its holdings in shares of Thomson Reuters by 461.1% during the third quarter. Invesco Ltd. now owns 2,253,243 shares of the company's stock valued at $349,996,000 after buying an additional 1,851,677 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Thomson Reuters by 312.5% during the third quarter. First Trust Advisors LP now owns 1,074,988 shares of the company's stock valued at $166,976,000 after buying an additional 814,393 shares in the last quarter. Finally, AGF Management Ltd. grew its stake in Thomson Reuters by 186.8% in the third quarter. AGF Management Ltd. now owns 870,312 shares of the company's stock valued at $135,592,000 after purchasing an additional 566,908 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Canaccord Genuity Group lowered their target price on Thomson Reuters from $176.61 to $131.95 and set a "buy" rating on the stock in a research note on Wednesday, February 4th. Royal Bank Of Canada upgraded Thomson Reuters from a "sector perform" rating to an "outperform" rating and set a $127.89 target price on the stock in a research note on Tuesday, February 10th. Barclays restated an "overweight" rating and issued a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. JPMorgan Chase & Co. lowered their target price on Thomson Reuters from $162.40 to $101.50 and set a "neutral" rating on the stock in a research note on Friday, February 6th. Finally, BMO Capital Markets set a $167.47 target price on Thomson Reuters in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.84.

Thomson Reuters Price Performance

Shares of NASDAQ:TRI opened at $87.35 on Wednesday. Thomson Reuters Corp has a fifty-two week low of $78.60 and a fifty-two week high of $218.42. The business has a 50-day moving average of $92.52 and a two-hundred day moving average of $112.43. The stock has a market capitalization of $38.10 billion, a P/E ratio of 25.41, a P/E/G ratio of 1.34 and a beta of 0.80. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60.

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

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be given a $0.655 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.0%. Thomson Reuters's payout ratio is currently 77.33%.

Thomson Reuters Company 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.

Want to see what other hedge funds are holding TRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thomson Reuters Corp (NASDAQ:TRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.