Swiss National Bank increased its stake in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 11.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 784,598 shares of the business services provider’s stock after purchasing an additional 80,500 shares during the period. Swiss National Bank owned approximately 0.16% of Thomson Reuters worth $52,507,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Jarislowsky Fraser Ltd increased its position in shares of Thomson Reuters by 1.1% in the fourth quarter. Jarislowsky Fraser Ltd now owns 9,596,473 shares of the business services provider’s stock worth $687,423,000 after purchasing an additional 102,162 shares during the period. FIL Ltd boosted its stake in Thomson Reuters by 80.3% in the fourth quarter. FIL Ltd now owns 7,893,500 shares of the business services provider’s stock valued at $564,651,000 after buying an additional 3,515,036 shares in the last quarter. Norges Bank acquired a new stake in Thomson Reuters in the fourth quarter valued at about $227,362,000. FMR LLC boosted its stake in Thomson Reuters by 5.5% in the fourth quarter. FMR LLC now owns 2,234,813 shares of the business services provider’s stock valued at $159,864,000 after buying an additional 116,391 shares in the last quarter. Finally, Fiera Capital Corp boosted its stake in Thomson Reuters by 7.6% in the fourth quarter. Fiera Capital Corp now owns 1,757,639 shares of the business services provider’s stock valued at $125,803,000 after buying an additional 124,232 shares in the last quarter. Institutional investors own 19.83% of the company’s stock.
Shares of TRI stock opened at $66.24 on Friday. The business’s 50-day moving average price is $69.17 and its 200-day moving average price is $71.84. Thomson Reuters Corp has a 12 month low of $52.23 and a 12 month high of $82.50. The firm has a market capitalization of $32.81 billion, a price-to-earnings ratio of 46.95, a PEG ratio of 3.21 and a beta of 0.53. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Tuesday, May 5th. The business services provider reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.01). The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. Thomson Reuters had a net margin of 27.99% and a return on equity of 7.72%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 earnings per share. On average, sell-side analysts predict that Thomson Reuters Corp will post 1.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Thursday, May 21st will be paid a $0.38 dividend. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.29. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Wednesday, May 20th. Thomson Reuters’s payout ratio is currently 117.83%.
TRI has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Thomson Reuters from $70.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Bank of America reaffirmed a “buy” rating and issued a $82.00 price objective (up from $81.00) on shares of Thomson Reuters in a research note on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price objective on Thomson Reuters from $80.00 to $71.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. CIBC reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Thomson Reuters in a research note on Wednesday, February 26th. Finally, Barclays reduced their price objective on Thomson Reuters from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Thomson Reuters presently has a consensus rating of “Hold” and a consensus price target of $81.22.
About Thomson Reuters
Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.
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