Legal & General Group Plc Takes Position in Thomson Reuters Corp $TRI

Legal & General Group Plc acquired a new stake in Thomson Reuters Corp (NASDAQ:TRI) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 910,109 shares of the company’s stock, valued at approximately $74,310,000.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Thomson Reuters by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company’s stock worth $762,320,000 after purchasing an additional 85,684 shares during the period. TD Asset Management Inc lifted its position in shares of Thomson Reuters by 0.7% during the fourth quarter. TD Asset Management Inc now owns 4,664,372 shares of the company’s stock worth $616,342,000 after purchasing an additional 33,418 shares in the last quarter. TLT Family Holdco ULC purchased a new position in shares of Thomson Reuters in the second quarter valued at approximately $865,442,000. SEG Family Corp. purchased a new position in shares of Thomson Reuters in the second quarter valued at approximately $659,930,000. Finally, Morgan Stanley boosted its stake in shares of Thomson Reuters by 31.2% in the fourth quarter. Morgan Stanley now owns 2,802,312 shares of the company’s stock valued at $369,597,000 after purchasing an additional 665,743 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Up 2.3%

TRI stock opened at $104.78 on Friday. The company’s 50 day moving average price is $95.10 and its 200 day moving average price is $92.37. 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 Corp has a fifty-two week low of $76.28 and a fifty-two week high of $180.00. The firm has a market capitalization of $45.64 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 1.50 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities research analysts anticipate that Thomson Reuters Corp will post 4.45 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $0.655 dividend. 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 dividend payout ratio (DPR) is presently 69.68%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Scotia cut their target price on shares of Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 6th. Bank of America decreased their price target on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, May 19th. Royal Bank Of Canada boosted their price target on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Canaccord Genuity Group cut their price objective on Thomson Reuters from $134.00 to $132.50 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Scotiabank reiterated a “sector outperform” rating and issued a $135.00 target price on shares of Thomson Reuters in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.57.

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.