United Services Automobile Association Buys Shares of 5,644 Thomson Reuters Co. $TRI

Key Points

• United Services Automobile Association purchased 5,644 shares of Thomson Reuters worth approximately $965,000, indicating growing institutional interest in the company.
• Thomson Reuters reported earnings of $0.87 per share, exceeding analyst expectations, with a quarterly revenue of $1.81 billion, up 2.6% year-over-year.
• The company announced a quarterly dividend of $0.595 per share, providing a 1.4% yield for investors, set to be paid on September 10th.

United Services Automobile Association purchased a new position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,644 shares of the business services provider's stock, valued at approximately $965,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its holdings in Thomson Reuters by 139.5% in the 4th quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock worth $1,370,564,000 after acquiring an additional 4,977,006 shares in the last quarter. TD Asset Management Inc increased its holdings in Thomson Reuters by 15.7% in the 1st quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock worth $951,477,000 after acquiring an additional 750,063 shares in the last quarter. Vanguard Group Inc. increased its holdings in Thomson Reuters by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 5,476,600 shares of the business services provider's stock worth $945,069,000 after acquiring an additional 94,758 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Thomson Reuters by 1.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,537,660 shares of the business services provider's stock worth $437,985,000 after acquiring an additional 44,898 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in Thomson Reuters by 1.0% in the 1st quarter. 1832 Asset Management L.P. now owns 1,665,117 shares of the business services provider's stock worth $287,699,000 after acquiring an additional 17,223 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company's stock.

Thomson Reuters Trading Down 0.3%

Shares of TRI traded down $0.52 during mid-day trading on Friday, reaching $172.99. The stock had a trading volume of 617,589 shares, compared to its average volume of 896,501. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. Thomson Reuters Co. has a 52-week low of $151.60 and a 52-week high of $218.42. The business's fifty day moving average is $187.80 and its 200 day moving average is $185.52. The firm has a market cap of $77.96 billion, a price-to-earnings ratio of 35.38, a P/E/G ratio of 5.67 and a beta of 0.74.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Thomson Reuters's quarterly revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $0.595 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.4%. Thomson Reuters's dividend payout ratio is currently 65.75%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Thomson Reuters from $181.00 to $182.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. National Bankshares reaffirmed an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. CIBC raised shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 19th. Wells Fargo & Company raised shares of Thomson Reuters from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $187.00 to $212.00 in a report on Tuesday, September 9th. Finally, Scotiabank raised shares of Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and upped their target price for the stock from $188.00 to $200.00 in a report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $202.82.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.