Victory Capital Management Inc. Increases Stake in Thomson Reuters Co. $TRI

Victory Capital Management Inc. lifted its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 161.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 289,747 shares of the business services provider’s stock after purchasing an additional 178,831 shares during the period. Victory Capital Management Inc.’s holdings in Thomson Reuters were worth $45,006,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. AlphaCore Capital LLC bought a new stake in Thomson Reuters in the second quarter worth $39,000. Cullen Frost Bankers Inc. grew its stake in shares of Thomson Reuters by 50.0% during the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock valued at $39,000 after buying an additional 83 shares during the last quarter. Westside Investment Management Inc. grew its stake in shares of Thomson Reuters by 100.0% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the business services provider’s stock valued at $52,000 after buying an additional 169 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Thomson Reuters in the third quarter worth about $57,000. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Thomson Reuters by 30.9% in the second quarter. SBI Securities Co. Ltd. now owns 309 shares of the business services provider’s stock worth $62,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Shares of NYSE TRI opened at $111.46 on Friday. The firm’s 50-day moving average price is $109.24 and its 200-day moving average price is $136.80. Thomson Reuters Co. has a 52-week low of $79.71 and a 52-week high of $218.42. The company has a market cap of $49.60 billion, a PE ratio of 22.79, a PEG ratio of 5.67 and a beta of 0.81. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, February 5th. The business services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share. As a group, analysts anticipate that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.60. Thomson Reuters’s payout ratio is currently 78.68%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Scotiabank reissued an “outperform” rating and set a $156.00 price objective (down from $189.00) on shares of Thomson Reuters in a research note on Friday, February 6th. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a research report on Friday, February 6th. Royal Bank Of Canada raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating and set a $126.00 target price on the stock in a research report on Tuesday, February 10th. JPMorgan Chase & Co. cut their price target on Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Finally, The Goldman Sachs Group set a $111.00 price objective on shares of Thomson Reuters and gave the company a “buy” rating in a research note on Saturday, February 7th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.42.

Thomson Reuters Profile

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.