ProShare Advisors LLC Buys Shares of 488,245 Thomson Reuters Co. $TRI

ProShare Advisors LLC bought a new position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 488,245 shares of the business services provider’s stock, valued at approximately $75,839,000. ProShare Advisors LLC owned 0.11% of Thomson Reuters at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TRI. AGF Management Ltd. boosted its position in shares of Thomson Reuters by 186.8% during the third quarter. AGF Management Ltd. now owns 870,312 shares of the business services provider’s stock valued at $135,592,000 after buying an additional 566,908 shares during the last quarter. Intact Investment Management Inc. bought a new position in Thomson Reuters during the 3rd quarter valued at about $3,485,000. JCIC Asset Management Inc. purchased a new stake in shares of Thomson Reuters during the 3rd quarter valued at about $4,015,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Thomson Reuters during the 3rd quarter valued at about $18,088,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Thomson Reuters in the third quarter worth approximately $10,117,000. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Price Performance

NYSE TRI opened at $89.31 on Tuesday. The business’s fifty day moving average is $123.96 and its 200 day moving average is $148.88. Thomson Reuters Co. has a fifty-two week low of $85.02 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. The company has a market capitalization of $39.74 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 5.67 and a beta of 0.79.

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

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be given a $0.655 dividend. The ex-dividend date is Tuesday, February 17th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.60. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.9%. Thomson Reuters’s dividend payout ratio (DPR) is currently 78.68%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TRI. Canaccord Genuity Group dropped their target price on shares of Thomson Reuters from $174.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. The Goldman Sachs Group set a $111.00 price target on Thomson Reuters and gave the stock a “buy” rating in a research note on Saturday. Huber Research raised Thomson Reuters to an “overweight” rating in a report on Monday, October 20th. Morgan Stanley set a $116.00 target price on Thomson Reuters in a report on Friday. Finally, Wells Fargo & Company set a $140.00 target price on Thomson Reuters and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.