Abacus Wealth Partners LLC Takes Position in Thomson Reuters Corp $TRI

Abacus Wealth Partners LLC purchased a new stake in Thomson Reuters Corp (NASDAQ:TRI) in the fourth quarter, Holdings Channel.com reports. The fund purchased 8,030 shares of the company’s stock, valued at approximately $1,059,000.

A number of other large investors have also made changes to their positions in TRI. TLT Family Holdco ULC purchased a new position in shares of Thomson Reuters in the 2nd quarter valued at about $865,442,000. SEG Family Corp. purchased a new position in shares of Thomson Reuters in the 2nd quarter valued at about $659,930,000. Invesco Ltd. increased its holdings in shares of Thomson Reuters by 461.1% in the 3rd quarter. Invesco Ltd. now owns 2,253,243 shares of the company’s stock valued at $349,996,000 after purchasing an additional 1,851,677 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Thomson Reuters by 312.5% in the 3rd quarter. First Trust Advisors LP now owns 1,074,988 shares of the company’s stock valued at $166,976,000 after purchasing an additional 814,393 shares in the last quarter. Finally, AGF Management Ltd. increased its holdings in shares of Thomson Reuters by 186.8% in the 3rd quarter. AGF Management Ltd. now owns 870,312 shares of the company’s stock valued at $135,592,000 after purchasing an additional 566,908 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

TRI has been the subject of several recent research reports. Bank of America raised their target price on shares of Thomson Reuters from $101.50 to $116.72 and gave the company a “neutral” rating in a report on Tuesday, March 10th. Weiss Ratings downgraded shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th. Royal Bank Of Canada upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating and set a $127.89 target price for the company in a report on Tuesday, February 10th. Barclays restated an “overweight” rating and set a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. Finally, TD Securities restated a “buy” rating on shares of Thomson Reuters in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Thomson Reuters presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.28.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $82.73 on Friday. Thomson Reuters Corp has a 12-month low of $78.60 and a 12-month high of $218.42. The stock has a market capitalization of $36.09 billion, a P/E ratio of 24.07, a P/E/G ratio of 1.23 and a beta of 0.80. The firm’s 50-day moving average is $93.46 and its two-hundred day moving average is $113.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.05. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the company earned $1.12 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts predict that Thomson Reuters Corp will post 4.44 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be given a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, May 20th. Thomson Reuters’s payout ratio is 77.33%.

About Thomson Reuters

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.