Thomson Reuters Corp $TRI Shares Sold by Amundi

Key Points

• Amundi reduced its Thomson Reuters stake by 6.8% in the first quarter, selling 29,422 shares and retaining 400,522 shares valued at approximately $36.0 million.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $143.92, although some firms recently lowered their targets.
• Thomson Reuters reported quarterly EPS of $1.23, surpassing estimates of $1.18, while revenue rose 9.8% year over year to $2.04 billion.

Amundi reduced its stake in Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,522 shares of the company's stock after selling 29,422 shares during the period. Amundi owned approximately 0.09% of Thomson Reuters worth $36,039,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in Thomson Reuters by 26.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,318 shares of the company's stock valued at $119,000 after purchasing an additional 276 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Thomson Reuters by 65.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,500,365 shares of the company's stock worth $135,297,000 after acquiring an additional 591,642 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Thomson Reuters by 88.3% in the 1st quarter. Quantinno Capital Management LP now owns 90,480 shares of the company's stock valued at $8,141,000 after acquiring an additional 42,428 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Thomson Reuters during the 1st quarter valued at approximately $750,000. Finally, Everest Financial Group LLC bought a new position in Thomson Reuters during the first quarter worth $204,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays reaffirmed an "overweight" rating and issued a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. Argus assumed coverage on shares of Thomson Reuters in a report on Wednesday, April 22nd. They issued a "hold" rating for the company. Wells Fargo & Company set a $85.00 price objective on shares of Thomson Reuters and gave the company an "equal weight" rating in a research report on Tuesday, June 30th. Scotiabank set a $138.00 price objective on shares of Thomson Reuters and gave the stock a "sector outperform" rating in a research note on Wednesday, May 6th. Finally, TD Securities reissued a "buy" rating on shares of Thomson Reuters in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $143.92.

Thomson Reuters Stock Performance

Shares of TRI opened at $101.61 on Tuesday. The firm has a 50-day moving average price of $87.76 and a 200 day moving average price of $93.80. The firm has a market capitalization of $44.26 billion, a PE ratio of 29.56, a P/E/G ratio of 1.46 and a beta of 0.75. 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 52-week low of $76.28 and a 52-week high of $204.07.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.05. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $1.12 earnings per share. On average, sell-side analysts anticipate that Thomson Reuters Corp will post 4.44 earnings per share for the current fiscal year.

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.

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