Trust Co. of Toledo NA OH Acquires New Stake in Thomson Reuters Co. $TRI

Trust Co. of Toledo NA OH acquired a new stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 381 shares of the business services provider’s stock, valued at approximately $77,000.

Several other institutional investors have also added to or reduced their stakes in TRI. TD Asset Management Inc lifted its position in Thomson Reuters by 15.7% in the 1st quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider’s stock valued at $951,477,000 after acquiring an additional 750,063 shares in the last quarter. Millennium Management LLC lifted its position in Thomson Reuters by 365.6% in the 1st quarter. Millennium Management LLC now owns 894,074 shares of the business services provider’s stock valued at $154,475,000 after acquiring an additional 702,036 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Thomson Reuters by 36.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,588,508 shares of the business services provider’s stock valued at $274,462,000 after acquiring an additional 421,279 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Thomson Reuters by 97.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 414,960 shares of the business services provider’s stock valued at $71,620,000 after acquiring an additional 205,306 shares in the last quarter. Finally, Junto Capital Management LP bought a new stake in Thomson Reuters in the 1st quarter valued at $34,422,000. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Stock Up 0.9%

Thomson Reuters stock opened at $151.42 on Monday. The firm has a market capitalization of $67.99 billion, a PE ratio of 30.97, a P/E/G ratio of 5.67 and a beta of 0.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The company’s 50-day moving average is $169.35 and its 200-day moving average is $183.34. Thomson Reuters Co. has a fifty-two week low of $149.47 and a fifty-two week high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Wednesday, August 6th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.79 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Thomson Reuters’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. Sell-side analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, August 19th. Thomson Reuters’s dividend payout ratio is presently 65.75%.

Analysts Set New Price Targets

Several brokerages have issued reports on TRI. Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $188.00 to $200.00 in a research note on Wednesday, August 6th. TD Securities upgraded shares of Thomson Reuters from a “hold” rating to a “buy” rating and lifted their price target for the company from $275.00 to $285.00 in a research note on Thursday, August 28th. National Bankshares reiterated an “outperform” rating on shares of Thomson Reuters in a research note on Thursday, July 10th. Wells Fargo & Company upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $187.00 to $212.00 in a research note on Tuesday, September 9th. Finally, Canaccord Genuity Group lifted their price target on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $202.82.

About Thomson Reuters

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.