Thomson Reuters Co. (NYSE:TRI) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,242 shares of the business services provider’s stock after selling 214 shares during the quarter. Truist Financial Corp’s holdings in Thomson Reuters were worth $2,569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FIL Ltd increased its stake in Thomson Reuters by 9.8% during the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after purchasing an additional 445,444 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Thomson Reuters by 53.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 969,443 shares of the business services provider’s stock worth $141,752,000 after acquiring an additional 338,896 shares during the last quarter. TD Asset Management Inc raised its stake in Thomson Reuters by 7.9% in the 1st quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider’s stock worth $630,534,000 after acquiring an additional 295,301 shares during the last quarter. Cibc World Market Inc. lifted its position in Thomson Reuters by 26.3% during the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock worth $223,525,000 after acquiring an additional 276,206 shares during the period. Finally, MUFG Securities EMEA plc purchased a new stake in Thomson Reuters during the 2nd quarter valued at about $45,514,000. 17.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Finally, Royal Bank of Canada reduced their target price on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Thomson Reuters presently has an average rating of “Hold” and an average target price of $173.45.

Thomson Reuters Price Performance

NYSE:TRI opened at $166.68 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16. Thomson Reuters Co. has a 52 week low of $117.46 and a 52 week high of $176.03. The stock’s 50-day moving average price is $167.13 and its 200-day moving average price is $164.73. The stock has a market capitalization of $74.96 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 5.58 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. Thomson Reuters’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. As a group, equities analysts expect that Thomson Reuters Co. will post 3.71 EPS for the current fiscal year.

Thomson Reuters Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.146 per share. This represents a $0.58 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s payout ratio is 41.14%.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.