Thomson Reuters Co. (NYSE:TRI) Shares Purchased by Franklin Resources Inc.

Posted by Defense World Staff on Jun 2nd, 2023

Franklin Resources Inc. grew its stake in shares of Thomson Reuters Co. (NYSE:TRI – Get Rating) (TSE:TRI) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,372 shares of the business services provider’s stock after acquiring an additional 8,315 shares during the quarter. Franklin Resources Inc.’s holdings in Thomson Reuters were worth $7,344,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Bank of Montreal Can increased its holdings in shares of Thomson Reuters by 45.0% during the third quarter. Bank of Montreal Can now owns 7,593,951 shares of the business services provider’s stock valued at $785,341,000 after acquiring an additional 2,357,199 shares in the last quarter. Vanguard Group Inc. increased its holdings in Thomson Reuters by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,584,932 shares of the business services provider’s stock worth $573,125,000 after buying an additional 150,880 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Thomson Reuters by 6.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,000,881 shares of the business services provider’s stock worth $307,650,000 after buying an additional 174,926 shares during the period. WCM Investment Management LLC acquired a new position in Thomson Reuters in the 4th quarter worth approximately $202,744,000. Finally, Bank of Nova Scotia increased its holdings in Thomson Reuters by 0.3% in the 4th quarter. Bank of Nova Scotia now owns 1,599,645 shares of the business services provider’s stock worth $182,482,000 after buying an additional 5,311 shares during the period. Institutional investors and hedge funds own 20.84% of the company’s stock.

Thomson Reuters Trading Down 2.5 %

Shares of NYSE:TRI opened at $123.98 on Friday. Thomson Reuters Co. has a 1 year low of $94.94 and a 1 year high of $133.55. The firm has a market capitalization of $58.39 billion, a price-to-earnings ratio of 51.44, a price-to-earnings-growth ratio of 3.15 and a beta of 0.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50 day moving average price is $127.51 and its 200-day moving average price is $121.24.

Thomson Reuters (NYSE:TRI – Get Rating) (TSE:TRI) last announced its earnings results on Tuesday, May 2nd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. Thomson Reuters had a return on equity of 10.55% and a net margin of 17.20%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted $0.66 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that Thomson Reuters Co. will post 3.31 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, May 18th will be given a dividend of $0.362 per share. The ex-dividend date is Wednesday, May 17th. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.17%. Thomson Reuters’s dividend payout ratio (DPR) is 81.33%.

Analyst Ratings Changes

Several brokerages recently weighed in on TRI. Canaccord Genuity Group downgraded shares of Thomson Reuters from a “buy” rating to a “hold” rating and increased their price target for the stock from $124.00 to $131.00 in a report on Wednesday, May 3rd. BNP Paribas upgraded shares of Thomson Reuters from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $100.00 to $115.00 in a report on Wednesday. 51job reiterated a “downgrade” rating on shares of Thomson Reuters in a report on Wednesday, May 3rd. BMO Capital Markets increased their price target on shares of Thomson Reuters from $161.00 to $182.00 and gave the stock an “outperform” rating in a report on Tuesday, February 14th. Finally, Scotiabank lowered Thomson Reuters from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $137.67.

Thomson Reuters Company Profile

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Thomson Reuters Corp. engages in the provision of news and information for professional markets. It operates through the following segments: Legal Professionals, Corporates, Tax and Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment provides research and workflow products to law firms and government.