Wellington Management Group LLP Makes New Investment in Thomson Reuters Corp $TRI

Wellington Management Group LLP purchased a new stake in Thomson Reuters Corp (NASDAQ:TRI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,041 shares of the company’s stock, valued at approximately $738,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TRI. Bank of New York Mellon Corp raised its position in shares of Thomson Reuters by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 493,071 shares of the company’s stock worth $65,031,000 after acquiring an additional 46,680 shares in the last quarter. Alberta Investment Management Corp bought a new stake in shares of Thomson Reuters during the 2nd quarter valued at about $38,770,000. Vest Financial LLC grew its stake in Thomson Reuters by 95.2% during the second quarter. Vest Financial LLC now owns 93,557 shares of the company’s stock worth $7,641,000 after purchasing an additional 45,618 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Thomson Reuters by 44,306.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,536 shares of the company’s stock worth $12,621,000 after purchasing an additional 154,188 shares during the period. Finally, TD Asset Management Inc increased its holdings in Thomson Reuters by 0.7% in 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. Institutional investors and hedge funds own 17.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on TRI shares. Bank of America dropped their price target on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 19th. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Royal Bank Of Canada lifted their price objective on shares of Thomson Reuters from $121.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 24th. Finally, Barclays cut their target price on shares of Thomson Reuters from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Thomson Reuters Stock Up 1.7%

TRI stock opened at $97.35 on Friday. The stock’s 50 day simple moving average is $99.67 and its 200 day simple moving average is $93.53. Thomson Reuters Corp has a fifty-two week low of $76.28 and a fifty-two week high of $173.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market cap of $42.41 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 1.86 and a beta of 0.74.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. On average, research analysts expect that Thomson Reuters Corp will post 4.48 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Wednesday, August 19th. Thomson Reuters’s dividend payout ratio (DPR) is currently 69.68%.

About Thomson Reuters

Thomson Reuters Corporation is a global provider of information, software, and technology solutions for professionals and institutions. Its products and services support legal professionals, corporations, tax and accounting firms, governments, and media organizations, helping customers manage regulatory requirements, research information, analyze data, and improve workflow efficiency.

The company’s offerings include legal research and practice-management solutions, tax and accounting software, corporate compliance and risk-management tools, and products designed for government and regulatory users.