Norges Bank Purchases Shares of 1,162,529 Thomson Reuters Corp $TRI

Norges Bank purchased a new stake in shares of Thomson Reuters Corp (NASDAQ:TRI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,162,529 shares of the company’s stock, valued at approximately $153,417,000. Norges Bank owned about 0.26% of Thomson Reuters at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TRI. Montag A & Associates Inc. acquired a new position in shares of Thomson Reuters during the fourth quarter valued at about $43,000. Westside Investment Management Inc. raised its holdings in shares of Thomson Reuters by 100.0% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the company’s stock valued at $52,000 after purchasing an additional 169 shares during the period. UMB Bank n.a. raised its holdings in shares of Thomson Reuters by 21.2% during the third quarter. UMB Bank n.a. now owns 441 shares of the company’s stock valued at $69,000 after purchasing an additional 77 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Thomson Reuters by 1,011.7% during the fourth quarter. Hantz Financial Services Inc. now owns 667 shares of the company’s stock valued at $88,000 after purchasing an additional 607 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Thomson Reuters by 72.8% during the fourth quarter. Allworth Financial LP now owns 700 shares of the company’s stock valued at $92,000 after purchasing an additional 295 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Trading Down 3.4%

TRI opened at $83.43 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60. Thomson Reuters Corp has a fifty-two week low of $78.60 and a fifty-two week high of $218.42. The firm has a market capitalization of $36.39 billion, a PE ratio of 24.27, a P/E/G ratio of 1.29 and a beta of 0.77. The company’s 50-day moving average is $89.52 and its 200 day moving average is $107.76.

Thomson Reuters (NASDAQ:TRI) last posted its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Thomson Reuters Corp will post 4.44 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, May 20th. Thomson Reuters’s dividend payout ratio is currently 76.16%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. BMO Capital Markets set a $167.47 price objective on shares of Thomson Reuters in a report on Friday, February 6th. Morgan Stanley set a $117.74 price objective on shares of Thomson Reuters in a report on Friday, February 6th. Argus assumed coverage on shares of Thomson Reuters in a report on Wednesday, April 22nd. They set a “hold” rating on the stock. Canaccord Genuity Group dropped their price objective on shares of Thomson Reuters from $176.61 to $131.95 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Finally, Wells Fargo & Company upped their price objective on shares of Thomson Reuters from $87.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.84.

Thomson Reuters Profile

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.