First Trust Advisors LP Purchases 397,150 Shares of Thomson Reuters Corp $TRI

First Trust Advisors LP raised its position in Thomson Reuters Corp (NASDAQ:TRI) by 33.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,588,756 shares of the company’s stock after buying an additional 397,150 shares during the period. First Trust Advisors LP’s holdings in Thomson Reuters were worth $142,956,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TRI. Brighton Jones LLC bought a new position in shares of Thomson Reuters in the fourth quarter valued at approximately $448,000. AQR Capital Management LLC boosted its holdings in shares of Thomson Reuters by 30.3% in the 1st quarter. AQR Capital Management LLC now owns 17,152 shares of the company’s stock worth $2,964,000 after acquiring an additional 3,988 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Thomson Reuters during the 1st quarter worth approximately $205,000. Prudential Financial Inc. bought a new stake in Thomson Reuters during the 2nd quarter worth approximately $234,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Thomson Reuters during the 2nd quarter valued at $646,000. 17.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TRI shares. UBS Group set a $185.74 target price on Thomson Reuters and gave the company a “buy” rating in a research note on Thursday, April 23rd. Barclays reaffirmed an “overweight” rating and issued a $130.00 price target (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. Argus began coverage on shares of Thomson Reuters in a report on Wednesday, April 22nd. They set a “hold” rating on the stock. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research report on Wednesday, May 6th. Finally, Bank of America dropped their target price on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $143.92.

Thomson Reuters Trading Down 1.9%

TRI opened at $85.69 on Friday. The firm has a 50 day simple moving average of $85.89 and a 200 day simple moving average of $95.34. Thomson Reuters Corp has a fifty-two week low of $76.28 and a fifty-two week high of $206.45. The company has a market cap of $37.33 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.30 and a beta of 0.77. 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 (NASDAQ:TRI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the firm earned $1.12 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts anticipate that Thomson Reuters Corp will post 4.44 earnings per share for the current year.

Thomson Reuters Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a dividend of $0.655 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.1%. Thomson Reuters’s payout ratio is 76.16%.

Thomson Reuters Company 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.