Thomson Reuters Corp $TRI Stake Reduced by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. reduced its Thomson Reuters stake by 20% in the second quarter, selling 86,309 shares and retaining 345,679 shares worth approximately $28.2 million. Institutional investors collectively own 17.31% of the company.
• Thomson Reuters reported quarterly EPS of $0.99, exceeding estimates of $0.96, while revenue rose 9.5% year over year to $1.93 billion. Shares recently traded at $106.07, up 3.4%.
• The company declared a quarterly dividend of $0.655 per share, equivalent to a $2.62 annualized payout and a 2.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $142.83.

Benjamin Edwards Inc. cut its stake in Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 20.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 345,679 shares of the company's stock after selling 86,309 shares during the period. Benjamin Edwards Inc. owned 0.08% of Thomson Reuters worth $28,225,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of Thomson Reuters during the fourth quarter worth about $30,000. Timmons Wealth Management LLC bought a new stake in Thomson Reuters in the 4th quarter valued at about $42,000. Montag A & Associates Inc. acquired a new position in Thomson Reuters during the 4th quarter valued at about $43,000. Western Wealth Management LLC acquired a new position in Thomson Reuters during the 1st quarter valued at about $48,000. Finally, J.Safra Asset Management Corp bought a new position in Thomson Reuters in the 4th quarter worth about $56,000. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Trading Up 3.4%

Shares of NASDAQ:TRI opened at $106.07 on Friday. The company has a 50 day moving average of $90.59 and a 200-day moving average of $92.57. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. The firm has a market cap of $46.21 billion, a P/E ratio of 28.24, a P/E/G ratio of 1.51 and a beta of 0.75. Thomson Reuters Corp has a twelve month low of $76.28 and a twelve month high of $180.00.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. The business 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 for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $0.87 earnings per share. As a group, analysts anticipate that Thomson Reuters Corp will post 4.45 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.655 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.62 annualized dividend and a dividend yield of 2.5%. Thomson Reuters's dividend payout ratio (DPR) is 69.68%.

Analyst Ratings Changes

Several equities research analysts have commented on TRI shares. Scotiabank restated a "sector outperform" rating and issued a $135.00 price target on shares of Thomson Reuters in a research note on Thursday, August 6th. Weiss Ratings lowered Thomson Reuters from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, June 23rd. Scotia lowered their target price on Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 6th. Canaccord Genuity Group cut their target price on Thomson Reuters from $134.00 to $132.50 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Finally, TD Securities reiterated a "buy" rating on shares of Thomson Reuters in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $142.83.

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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