Legal & General Group Plc Boosts Stake in Thomson Reuters Co. $TRI

Legal & General Group Plc boosted its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,009,815 shares of the business services provider’s stock after purchasing an additional 116,723 shares during the period. Legal & General Group Plc owned about 0.22% of Thomson Reuters worth $202,671,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Millennium Management LLC raised its stake in shares of Thomson Reuters by 365.6% in the first quarter. Millennium Management LLC now owns 894,074 shares of the business services provider’s stock worth $154,475,000 after buying an additional 702,036 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Thomson Reuters by 36.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,588,508 shares of the business services provider’s stock valued at $274,462,000 after acquiring an additional 421,279 shares during the period. Geode Capital Management LLC increased its holdings in Thomson Reuters by 13.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,997,516 shares of the business services provider’s stock worth $405,266,000 after acquiring an additional 240,062 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Thomson Reuters by 129.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 369,984 shares of the business services provider’s stock worth $74,404,000 after acquiring an additional 208,404 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Thomson Reuters by 97.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 414,960 shares of the business services provider’s stock worth $71,620,000 after acquiring an additional 205,306 shares during the period. Institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TRI shares. The Goldman Sachs Group set a $186.00 price objective on shares of Thomson Reuters and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada lowered their target price on shares of Thomson Reuters from $208.00 to $182.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. Huber Research upgraded Thomson Reuters to an “overweight” rating in a research note on Monday, October 20th. Canaccord Genuity Group set a $174.00 price target on Thomson Reuters and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Thomson Reuters in a research report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Thomson Reuters presently has a consensus rating of “Moderate Buy” and an average price target of $195.27.

Thomson Reuters Price Performance

Shares of NYSE:TRI opened at $135.00 on Monday. The firm has a market cap of $60.30 billion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 5.67 and a beta of 0.74. The firm has a fifty day moving average price of $152.44 and a 200 day moving average price of $177.40. Thomson Reuters Co. has a fifty-two week low of $131.11 and a fifty-two week high of $218.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.81 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 EPS. Thomson Reuters has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a dividend of $0.595 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $2.38 dividend on an annualized basis and a yield of 1.8%. Thomson Reuters’s dividend payout ratio is presently 61.18%.

Thomson Reuters 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.