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

Norges Bank acquired a new stake in Thomson Reuters Corp (NASDAQ:TRI) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,162,529 shares of the company’s stock, valued at approximately $153,417,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRI. TLT Family Holdco ULC purchased a new stake in Thomson Reuters in the 2nd quarter valued at about $865,442,000. SEG Family Corp. purchased a new stake in Thomson Reuters in the 2nd quarter valued at about $659,930,000. Invesco Ltd. increased its stake in Thomson Reuters by 461.1% in the 3rd quarter. Invesco Ltd. now owns 2,253,243 shares of the company’s stock valued at $349,996,000 after buying an additional 1,851,677 shares during the last quarter. First Trust Advisors LP increased its stake in Thomson Reuters by 312.5% in the 3rd quarter. First Trust Advisors LP now owns 1,074,988 shares of the company’s stock valued at $166,976,000 after buying an additional 814,393 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in Thomson Reuters in the 3rd quarter valued at about $75,839,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Canaccord Genuity Group decreased their price objective on shares of Thomson Reuters from $176.61 to $131.95 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Wells Fargo & Company increased their target price on shares of Thomson Reuters from $87.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. UBS Group set a $185.74 target price on shares of Thomson Reuters and gave the company a “buy” rating in a research report on Thursday, April 23rd. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a research report on Wednesday, May 6th. Finally, Morgan Stanley set a $117.74 target price on shares of Thomson Reuters in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.84.

Thomson Reuters Stock Down 3.4%

TRI opened at $83.43 on Thursday. Thomson Reuters Corp has a 12 month low of $78.60 and a 12 month high of $218.42. The company has a market cap of $36.39 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 1.29 and a beta of 0.77. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $89.52 and a 200 day moving average of $107.76.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share 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 business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the previous year, the business earned $1.12 EPS. Thomson Reuters’s revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Thomson Reuters Corp will post 4.44 EPS for the current year.

Thomson Reuters Announces Dividend

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

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.