Truist Financial Corp Boosts Stake in Thomson Reuters Co. (NYSE:TRI)

Truist Financial Corp lifted its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,666 shares of the business services provider’s stock after purchasing an additional 330 shares during the quarter. Truist Financial Corp’s holdings in Thomson Reuters were worth $3,168,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRI. FMR LLC boosted its holdings in shares of Thomson Reuters by 26.3% during the 3rd quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock valued at $692,059,000 after buying an additional 1,179,155 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Thomson Reuters by 6.2% during the third quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock worth $500,872,000 after acquiring an additional 240,148 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of Thomson Reuters during the third quarter valued at approximately $170,036,000. Toronto Dominion Bank lifted its holdings in shares of Thomson Reuters by 361.6% during the third quarter. Toronto Dominion Bank now owns 1,142,194 shares of the business services provider’s stock valued at $139,713,000 after purchasing an additional 894,776 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Thomson Reuters by 6,607,664.7% in the 3rd quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock worth $138,048,000 after purchasing an additional 1,123,303 shares in the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on TRI shares. TD Securities lifted their price objective on Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, March 13th. Scotiabank increased their price target on shares of Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a report on Friday, May 3rd. Royal Bank of Canada boosted their price objective on shares of Thomson Reuters from $153.00 to $156.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 30th. UBS Group increased their target price on Thomson Reuters from $177.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, National Bank Financial raised Thomson Reuters from an “underperform” rating to a “sector perform” rating in a report on Tuesday, April 23rd. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Thomson Reuters presently has a consensus rating of “Hold” and a consensus target price of $164.31.

Thomson Reuters Price Performance

Shares of NYSE:TRI opened at $166.97 on Wednesday. The firm’s 50 day moving average price is $155.73 and its 200-day moving average price is $147.30. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $75.35 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 4.52 and a beta of 0.65. Thomson Reuters Co. has a twelve month low of $117.46 and a twelve month high of $168.28.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.17. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 EPS. Equities research analysts expect that Thomson Reuters Co. will post 3.58 EPS for the current year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Wednesday, May 15th. Thomson Reuters’s dividend payout ratio (DPR) is currently 41.14%.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting 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 to law firms and governments.