Thomson Reuters Corp $TRI Stock: ProShare Advisors LLC Boosts Stake

ProShare Advisors LLC boosted its stake in Thomson Reuters Corp (NASDAQ:TRI) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,115 shares of the company’s stock after buying an additional 9,914 shares during the quarter. ProShare Advisors LLC owned approximately 0.08% of Thomson Reuters worth $35,439,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TRI. Public Employees Retirement System of Ohio grew its holdings in shares of Thomson Reuters by 109.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,016 shares of the company’s stock worth $1,635,000 after purchasing an additional 10,439 shares during the last quarter. NEOS Investment Management LLC increased its position in shares of Thomson Reuters by 10.1% during the 2nd quarter. NEOS Investment Management LLC now owns 263,473 shares of the company’s stock worth $21,518,000 after purchasing an additional 24,264 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Thomson Reuters by 2,206.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,461 shares of the company’s stock worth $1,426,000 after purchasing an additional 16,704 shares in the last quarter. Alberta Investment Management Corp bought a new position in Thomson Reuters during the 2nd quarter valued at about $38,770,000. Finally, BlackRock Inc. bought a new position in Thomson Reuters during the 2nd quarter valued at about $91,548,000. 17.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TRI. Morgan Stanley set a $110.00 price target on shares of Thomson Reuters and gave the company an “equal weight” rating in a research report on Tuesday, October 13th. Scotiabank reaffirmed a “sector outperform” rating and set a $135.00 price objective on shares of Thomson Reuters in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Thomson Reuters from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 15th. Barclays cut their target price on shares of Thomson Reuters from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, September 8th. Finally, TD Securities reissued a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.99.

Thomson Reuters Stock Performance

Shares of NASDAQ TRI opened at $118.25 on Monday. Thomson Reuters Corp has a 1-year low of $76.28 and a 1-year high of $157.63. The company has a 50-day moving average of $104.82 and a two-hundred day moving average of $97.36. The company has a market cap of $51.24 billion, a PE ratio of 31.48, a P/E/G ratio of 2.27 and a beta of 0.69. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12.

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

Thomson Reuters Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a dividend of $0.6550 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.2%. Thomson Reuters’s payout ratio is presently 69.68%.

About Thomson Reuters

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.