Legal & General Group Plc Has $158.88 Million Position in Thomson Reuters Corp $TRI

Legal & General Group Plc lifted its stake in Thomson Reuters Corp (NASDAQ:TRI) by 1.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,022,981 shares of the company’s stock after acquiring an additional 13,166 shares during the period. Legal & General Group Plc’s holdings in Thomson Reuters were worth $158,881,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. AlphaCore Capital LLC bought a new position in Thomson Reuters during the second quarter valued at about $39,000. Cullen Frost Bankers Inc. lifted its position in shares of Thomson Reuters by 50.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock worth $39,000 after acquiring an additional 83 shares during the period. Westside Investment Management Inc. lifted its position in shares of Thomson Reuters by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the company’s stock worth $52,000 after acquiring an additional 169 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Thomson Reuters during the 3rd quarter worth approximately $57,000. Finally, SBI Securities Co. Ltd. increased its position in shares of Thomson Reuters by 30.9% during the second quarter. SBI Securities Co. Ltd. now owns 309 shares of the company’s stock valued at $62,000 after purchasing an additional 73 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TRI has been the subject of a number of recent research reports. The Goldman Sachs Group set a $111.00 target price on Thomson Reuters and gave the company a “buy” rating in a research note on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Thomson Reuters in a research note on Monday, December 29th. Canaccord Genuity Group lowered their price target on shares of Thomson Reuters from $174.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research note on Friday, February 6th. Finally, UBS Group set a $131.50 price objective on shares of Thomson Reuters in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $151.42.

Thomson Reuters Stock Performance

NASDAQ TRI opened at $99.28 on Friday. Thomson Reuters Corp has a 1-year low of $79.71 and a 1-year high of $218.42. The company has a 50 day moving average of $106.99 and a 200-day moving average of $135.06. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.11. The firm has a market cap of $44.18 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 1.54 and a beta of 0.81.

Thomson Reuters (NASDAQ:TRI) last announced its earnings results on Thursday, February 5th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.01 billion. Thomson Reuters had a return on equity of 14.51% and a net margin of 20.09%.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were given a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, February 17th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.60. Thomson Reuters’s dividend payout ratio is presently 78.68%.

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.