Thomson Reuters Corp $TRI Shares Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its Thomson Reuters stake by 10.5% in the fourth quarter, buying 46,680 additional shares and bringing its total holding to 493,071 shares worth about $65.0 million.
• Thomson Reuters recently reported better-than-expected quarterly results, posting EPS of $1.23 versus estimates of $1.18 and revenue of $2.04 billion, with revenue up 9.8% year over year.
• The company also announced a quarterly dividend of $0.655 per share, implying an annualized yield of 3.2%, while analysts currently rate the stock a consensus Moderate Buy.

Bank of New York Mellon Corp lifted its holdings in Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 493,071 shares of the company's stock after acquiring an additional 46,680 shares during the period. Bank of New York Mellon Corp owned approximately 0.11% of Thomson Reuters worth $65,031,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Penbrook Management LLC boosted its stake in shares of Thomson Reuters by 0.4% in the fourth quarter. Penbrook Management LLC now owns 24,948 shares of the company's stock valued at $3,297,000 after purchasing an additional 100 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Thomson Reuters by 0.8% in the second quarter. Public Sector Pension Investment Board now owns 13,098 shares of the company's stock valued at $2,629,000 after purchasing an additional 100 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of Thomson Reuters by 1.8% in the fourth quarter. Evergreen Capital Management LLC now owns 5,743 shares of the company's stock valued at $757,000 after purchasing an additional 101 shares during the period. Natixis Advisors LLC boosted its stake in shares of 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 purchasing an additional 103 shares during the period. Finally, Syon Capital LLC boosted its stake in shares of Thomson Reuters by 2.9% in the third quarter. Syon Capital LLC now owns 4,585 shares of the company's stock valued at $712,000 after purchasing an additional 129 shares during the period. Institutional investors and hedge funds own 17.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TRI. Bank of America cut their price target on shares of Thomson Reuters from $115.00 to $98.00 and set a "neutral" rating on the stock in a report on Tuesday, May 19th. TD Securities reaffirmed a "buy" rating on shares of Thomson Reuters in a report on Wednesday, May 6th. Weiss Ratings raised shares of Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday. Wells Fargo & Company upped their price target on shares of Thomson Reuters from $87.00 to $97.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada raised shares of Thomson Reuters from a "sector perform" rating to an "outperform" rating and set a $127.89 price target on the stock in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $144.84.

Thomson Reuters Stock Down 1.0%

TRI stock opened at $82.32 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11. Thomson Reuters Corp has a fifty-two week low of $78.60 and a fifty-two week high of $218.42. The firm's 50-day simple moving average is $89.06 and its 200 day simple moving average is $106.22. The stock has a market cap of $35.91 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.24 and a beta of 0.77.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $2 billion. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. As a group, sell-side analysts predict that Thomson Reuters Corp will post 4.44 EPS for the current year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, May 20th. Thomson Reuters's dividend payout ratio is currently 76.16%.

About Thomson Reuters

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.

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