Thomson Reuters (TSE:TRI) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Thomson Reuters' share price recently rose above its 200-day moving average, reaching a high of C$279.00 before closing at C$277.45.
• Analyst ratings for Thomson Reuters include a mix of "hold" and "buy" recommendations, with target prices ranging from C$255.00 to C$308.00.
• Insider activity has seen significant selling, with insiders liquidating over C$3.4 million worth of shares in the last ninety days, despite insiders owning 69.76% of the company stock.

Thomson Reuters Co. (TSE:TRI - Get Free Report) NYSE: TRI's stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$257.64 and traded as high as C$279.00. Thomson Reuters shares last traded at C$277.45, with a volume of 325,471 shares trading hands.

Wall Street Analyst Weigh In

TRI has been the subject of a number of recent research reports. National Bankshares boosted their target price on Thomson Reuters from C$286.00 to C$300.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. TD Securities raised their target price on shares of Thomson Reuters from C$260.00 to C$305.00 and gave the stock a "hold" rating in a report on Tuesday, July 15th. Canaccord Genuity Group upped their price target on Thomson Reuters from C$175.00 to C$181.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. BMO Capital Markets boosted their price target on shares of Thomson Reuters from C$280.00 to C$308.00 in a research report on Wednesday, July 16th. Finally, Scotiabank lowered shares of Thomson Reuters from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$269.80.

Thomson Reuters Price Performance

The company has a debt-to-equity ratio of 24.28, a current ratio of 0.94 and a quick ratio of 0.52. The stock has a market capitalization of C$78.14 billion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 3.64 and a beta of 0.40. The business's 50 day moving average price is C$273.31 and its 200 day moving average price is C$258.08.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 1.0%. Thomson Reuters's dividend payout ratio is currently 44.12%.

Insider Buying and Selling

In other news, Senior Officer Elizabeth Beastrom sold 2,848 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of C$262.48, for a total value of C$747,543.04. Also, Director Michael Parker sold 286 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of C$257.96, for a total transaction of C$73,777.70. Following the sale, the director directly owned 594 shares of the company's stock, valued at approximately C$153,230.62. This trade represents a 32.50% decrease in their ownership of the stock. Insiders have sold a total of 12,762 shares of company stock valued at $3,411,858 over the last three months. 69.76% of the stock is currently owned by company insiders.

About Thomson Reuters

Thomson Reuters is the result of the $17.6 billion megamerger of Canada's Thomson and the United Kingdom's Reuters Group in 2008 and the 2018 carve-out of its finance and risk business, Refinitiv, in which it holds a 45% stake. In 2019, the company agreed to exchange its 45% stake in Refinitiv for a 15% stake in LSE.