Rathbones Group PLC Reduces Stock Position in Thomson Reuters Co. $TRI

Rathbones Group PLC lessened its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.9% during the second quarter, Holdings Channel reports. The firm owned 90,071 shares of the business services provider’s stock after selling 1,759 shares during the quarter. Rathbones Group PLC’s holdings in Thomson Reuters were worth $18,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aviva PLC boosted its stake in Thomson Reuters by 6.8% during the second quarter. Aviva PLC now owns 116,819 shares of the business services provider’s stock worth $23,487,000 after acquiring an additional 7,441 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of Thomson Reuters by 2.5% during the second quarter. Metis Global Partners LLC now owns 11,313 shares of the business services provider’s stock valued at $2,275,000 after purchasing an additional 281 shares during the last quarter. Harvest Portfolios Group Inc. bought a new stake in shares of Thomson Reuters in the 2nd quarter worth approximately $653,000. Savant Capital LLC grew its stake in shares of Thomson Reuters by 25.3% in the 2nd quarter. Savant Capital LLC now owns 4,080 shares of the business services provider’s stock worth $821,000 after buying an additional 823 shares during the last quarter. Finally, HORAN Wealth LLC bought a new position in Thomson Reuters during the 2nd quarter valued at approximately $211,000. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Trading Down 1.0%

Shares of NYSE:TRI opened at $137.57 on Monday. The stock has a 50 day moving average of $160.16 and a 200 day moving average of $180.78. The company has a market cap of $61.45 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. Thomson Reuters Co. has a 12-month low of $136.28 and a 12-month high of $218.42. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.78 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Thomson Reuters has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be issued a $0.595 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $2.38 annualized dividend and a yield of 1.7%. Thomson Reuters’s dividend payout ratio is currently 61.18%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TRI shares. Morgan Stanley set a $172.00 price objective on Thomson Reuters in a research note on Tuesday, November 4th. Canaccord Genuity Group set a $174.00 price target on Thomson Reuters and gave the company a “buy” rating in a report on Tuesday, November 4th. Scotiabank reaffirmed an “outperform” rating and issued a $189.00 price objective (down previously from $200.00) on shares of Thomson Reuters in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on Thomson Reuters from $178.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Finally, Wells Fargo & Company raised Thomson Reuters from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $187.00 to $212.00 in a research report on Tuesday, September 9th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $195.27.

Thomson Reuters 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.