Thomson Reuters Corp $TRI Holdings Lifted by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio more than doubled its Thomson Reuters position in the second quarter, acquiring 10,439 additional shares for a total holding worth approximately $1.64 million. Institutional investors collectively own 17.31% of the stock.
• Analysts maintain a generally positive outlook, with Thomson Reuters carrying a consensus “Moderate Buy” rating and an average price target of $131.57, despite some target-price reductions.
• Thomson Reuters exceeded quarterly expectations, reporting $0.99 in earnings per share and $1.93 billion in revenue, up 9.5% year over year. The company also declared a quarterly dividend of $0.655 per share, representing a 2.5% annualized yield.

Public Employees Retirement System of Ohio increased its position in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 109.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,016 shares of the company's stock after acquiring an additional 10,439 shares during the period. Public Employees Retirement System of Ohio's holdings in Thomson Reuters were worth $1,635,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRI. Public Sector Pension Investment Board grew its position in shares of Thomson Reuters by 0.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 13,098 shares of the company's stock worth $2,629,000 after buying an additional 100 shares during the period. Natixis Advisors LLC lifted its holdings in Thomson Reuters by 0.6% in the third quarter. Natixis Advisors LLC now owns 16,424 shares of the company's stock valued at $2,551,000 after buying an additional 103 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Thomson Reuters by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 9,834 shares of the company's stock valued at $885,000 after buying an additional 130 shares during the period. Royal London Asset Management Ltd. boosted its stake in Thomson Reuters by 1.7% in the fourth quarter. Royal London Asset Management Ltd. now owns 8,037 shares of the company's stock valued at $1,060,000 after acquiring an additional 134 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its stake in Thomson Reuters by 1.4% in the first quarter. Kestra Advisory Services LLC now owns 9,682 shares of the company's stock valued at $871,000 after acquiring an additional 134 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on TRI shares. Canaccord Genuity Group dropped their target price on shares of Thomson Reuters from $134.00 to $132.50 and set a "buy" rating for the company in a research report on Thursday, August 6th. Bank of America reduced their price target on Thomson Reuters from $115.00 to $98.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 19th. Weiss Ratings raised Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 24th. Royal Bank Of Canada upped their price objective on Thomson Reuters from $121.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Finally, TD Securities reissued a "buy" rating on shares of Thomson Reuters in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.57.

Thomson Reuters Price Performance

NASDAQ TRI opened at $105.68 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market cap of $46.04 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.04 and a beta of 0.74. The business has a 50 day simple moving average of $98.79 and a 200 day simple moving average of $93.26. Thomson Reuters Corp has a 52-week low of $76.28 and a 52-week high of $180.00.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The business's revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Analysts anticipate that Thomson Reuters Corp will post 4.45 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Thomson Reuters's payout ratio is currently 69.68%.

Thomson Reuters 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.