Vest Financial LLC Raises Position in Thomson Reuters Corp $TRI

Key Points

• Vest Financial nearly doubled its Thomson Reuters position in the second quarter, increasing holdings by 95.2% to 93,557 shares valued at approximately $7.64 million. Institutional investors and hedge funds collectively own 17.31% of the company.
• Thomson Reuters reported better-than-expected quarterly results, with EPS of $0.99 versus the $0.96 consensus estimate and revenue of $1.93 billion, up 9.5% year over year.
• The company declared a quarterly dividend of $0.655 per share, equivalent to an annualized $2.62 dividend and a 2.5% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $142.83.

Vest Financial LLC increased its holdings in Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 95.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,557 shares of the company's stock after purchasing an additional 45,618 shares during the period. Vest Financial LLC's holdings in Thomson Reuters were worth $7,641,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TRI. Vanguard Group Inc. lifted its holdings in shares of Thomson Reuters by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company's stock worth $762,320,000 after acquiring an additional 85,684 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Thomson Reuters by 19.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 77,601 shares of the company's stock valued at $10,235,000 after purchasing an additional 12,470 shares during the period. GF Fund Management CO. LTD. grew its holdings in Thomson Reuters by 14.4% in the fourth quarter. GF Fund Management CO. LTD. now owns 93,832 shares of the company's stock valued at $12,376,000 after purchasing an additional 11,832 shares during the period. Bank of New York Mellon Corp increased its position in Thomson Reuters by 10.5% during the fourth quarter. Bank of New York Mellon Corp now owns 493,071 shares of the company's stock worth $65,031,000 after purchasing an additional 46,680 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new position in Thomson Reuters during the fourth quarter worth approximately $4,292,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Trading Up 3.4%

Shares of TRI stock opened at $106.07 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12. Thomson Reuters Corp has a fifty-two week low of $76.28 and a fifty-two week high of $180.00. The firm's 50 day moving average price is $90.59 and its two-hundred day moving average price is $92.57. The stock has a market cap of $46.21 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 1.51 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. The company had revenue of $1.93 billion during 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 quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 earnings per share. On average, analysts anticipate that Thomson Reuters Corp will post 4.45 EPS for the current year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, August 19th. Thomson Reuters's payout ratio is currently 69.68%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TRI shares. Canaccord Genuity Group decreased their price target on shares of Thomson Reuters from $134.00 to $132.50 and set a "buy" rating on the stock in a report on Thursday, August 6th. Argus began coverage on Thomson Reuters in a report on Wednesday, April 22nd. They set a "hold" rating for the company. Scotia cut 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. Wells Fargo & Company set a $85.00 target price on Thomson Reuters and gave the company an "equal weight" rating in a report on Tuesday, June 30th. Finally, Bank of America lowered their price target on Thomson Reuters from $115.00 to $98.00 and set a "neutral" rating for the company in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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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