Thomson Reuters Corp $TRI Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC lifted its holdings in shares of Thomson Reuters Corp (NASDAQ:TRI) by 2.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 364,115 shares of the company’s stock after acquiring an additional 9,914 shares during the period. ProShare Advisors LLC’s holdings in Thomson Reuters were worth $35,439,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Western Wealth Management LLC acquired a new position in Thomson Reuters in the first quarter valued at approximately $48,000. GK Wealth Management LLC bought a new position in Thomson Reuters in the third quarter valued at approximately $53,000. Continuum Advisory LLC acquired a new stake in Thomson Reuters during the 2nd quarter worth $45,000. SBI Securities Co. Ltd. grew its holdings in Thomson Reuters by 66.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 786 shares of the company’s stock worth $64,000 after acquiring an additional 315 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Thomson Reuters by 135.8% during the 1st quarter. Fifth Third Bancorp now owns 823 shares of the company’s stock valued at $74,000 after acquiring an additional 474 shares during the last quarter. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Price Performance

Shares of TRI stock opened at $118.25 on Monday. The firm has a fifty day moving average of $104.82 and a 200-day moving average of $97.36. The company has a market capitalization of $51.24 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 2.27 and a beta of 0.69. 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 12-month low of $76.28 and a 12-month high of $157.63.

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

Thomson Reuters Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TRI. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Weiss Ratings upgraded Thomson Reuters from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 15th. Royal Bank Of Canada upped their price objective on Thomson Reuters from $124.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, October 28th. Jefferies Financial Group started coverage on Thomson Reuters in a research note on Tuesday, October 20th. They issued a “buy” rating and a $130.00 target price on the stock. Finally, Morgan Stanley set a $110.00 target price on Thomson Reuters and gave the stock an “equal weight” rating in a report on Tuesday, October 13th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.99.

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.