United Services Automobile Association Buys New Shares in 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 stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,644 shares of the business services provider's stock, valued at approximately $965,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TRI. Brighton Jones LLC acquired a new position in shares of Thomson Reuters during the 4th quarter valued at $448,000. Jane Street Group LLC lifted its holdings in shares of Thomson Reuters by 68.6% during the 4th quarter. Jane Street Group LLC now owns 18,211 shares of the business services provider's stock valued at $2,921,000 after acquiring an additional 7,410 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Thomson Reuters by 29.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,208 shares of the business services provider's stock valued at $515,000 after acquiring an additional 725 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Thomson Reuters by 0.9% during the 4th quarter. Ameriprise Financial Inc. now owns 33,663 shares of the business services provider's stock valued at $5,683,000 after acquiring an additional 313 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Thomson Reuters during the 4th quarter valued at $6,964,000. Institutional investors and hedge funds own 17.31% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Scotiabank upgraded shares of Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $188.00 to $200.00 in a report on Wednesday, August 6th. Morgan Stanley cut their price objective on shares of Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating on the stock in a report on Thursday. National Bankshares reissued an "outperform" rating on shares of Thomson Reuters in a research report on Thursday, July 10th. Canaccord Genuity Group boosted their price objective on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. Finally, CIBC raised shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 19th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.82.

Thomson Reuters Price Performance

Shares of NYSE:TRI traded down $0.52 during trading on Friday, reaching $172.99. The company had a trading volume of 617,589 shares, compared to its average volume of 896,501. The firm's fifty day moving average is $188.35 and its 200 day moving average is $185.44. The firm has a market capitalization of $77.96 billion, a PE ratio of 35.38, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. Thomson Reuters Co. has a twelve month low of $151.60 and a twelve month high of $218.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02.

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

Thomson Reuters Dividend Announcement

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

Thomson Reuters 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.