VestGen Advisors LLC Acquires 14,782 Shares of Thomson Reuters Corp $TRI

Key Points

• VestGen Advisors acquired 14,782 Thomson Reuters shares worth approximately $1.44 million during the third quarter. Institutional investors collectively own 17.31% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $127.99; several firms recently set targets between $130 and $135.
• Thomson Reuters exceeded quarterly expectations, reporting $0.99 in EPS and $1.93 billion in revenue, with revenue up 9.5% year over year. The company also pays a quarterly dividend of $0.655, equivalent to a 2.2% annual yield.

VestGen Advisors LLC acquired a new position in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,782 shares of the company's stock, valued at approximately $1,439,000.

Other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of Thomson Reuters during the second quarter valued at about $107,223,000. Bank of America Corp DE bought a new stake in Thomson Reuters in the 2nd quarter worth about $104,104,000. The Manufacturers Life Insurance Company bought a new stake in Thomson Reuters in the 2nd quarter worth about $102,215,000. Cibc World Market Inc. purchased a new position in shares of Thomson Reuters in the 2nd quarter worth approximately $100,711,000. Finally, BlackRock Inc. bought a new stake in Thomson Reuters during the second quarter worth $91,548,000. Institutional investors own 17.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TRI shares. Weiss Ratings raised Thomson Reuters from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 15th. Jefferies Financial Group initiated coverage on shares of Thomson Reuters in a research note on Tuesday, October 20th. They issued a "buy" rating and a $130.00 target price on the stock. Royal Bank Of Canada increased their target price on shares of Thomson Reuters from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Wednesday. Scotiabank restated a "sector outperform" rating and set a $135.00 price target on shares of Thomson Reuters in a research note on Thursday, August 6th. Finally, Morgan Stanley set a $110.00 price target on shares of Thomson Reuters and gave the stock an "equal weight" rating in a research note on Tuesday, October 13th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $127.99.

Thomson Reuters Trading Up 1.6%

Shares of TRI opened at $118.25 on Friday. The business has a 50-day moving average of $104.82 and a 200 day moving average of $97.36. Thomson Reuters Corp has a fifty-two week low of $76.28 and a fifty-two week high of $157.63. The firm has a market cap of $51.24 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 2.24 and a beta of 0.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.03. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The company's revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $0.87 earnings per share. As a group, research analysts forecast that Thomson Reuters Corp will post 4.46 EPS for the current year.

Thomson Reuters Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were paid a $0.6550 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.62 annualized dividend and a yield of 2.2%. Thomson Reuters's dividend payout ratio (DPR) is currently 69.68%.

Thomson Reuters Profile

Thomson Reuters is a global provider of information, software and technology solutions for professionals and institutions. The company serves customers in the legal, tax, accounting, audit, corporate, government, risk and compliance sectors, as well as the media industry. Its offerings combine authoritative content with workflow tools, data analytics and artificial intelligence.

Key products and services include Westlaw and Practical Law for legal research and practice management; Checkpoint and ONESOURCE for tax and accounting professionals; Confirmation for audit-related workflows; and CoCounsel, an AI-assisted legal technology platform.

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