Renaissance Technologies LLC Has $15.18 Million Stake in Thomson Reuters Corp $TRI

Renaissance Technologies LLC increased its position in Thomson Reuters Corp (NASDAQ:TRI) by 23.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,695 shares of the company’s stock after purchasing an additional 32,300 shares during the period. Renaissance Technologies LLC’s holdings in Thomson Reuters were worth $15,179,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Empowered Funds LLC bought a new stake in Thomson Reuters during the 4th quarter valued at $30,000. Timmons Wealth Management LLC acquired a new position in Thomson Reuters during the fourth quarter worth $42,000. Montag A & Associates Inc. bought a new position in shares of Thomson Reuters in the fourth quarter valued at $43,000. J.Safra Asset Management Corp bought a new position in shares of Thomson Reuters in the fourth quarter valued at $56,000. Finally, Fifth Third Bancorp grew its holdings in shares of Thomson Reuters by 135.8% during the first quarter. Fifth Third Bancorp now owns 823 shares of the company’s stock valued at $74,000 after buying an additional 474 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Price Performance

TRI opened at $98.13 on Friday. Thomson Reuters Corp has a 1 year low of $76.28 and a 1 year high of $204.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $42.75 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 1.47 and a beta of 0.77. The firm’s fifty day moving average price is $87.45 and its two-hundred day moving average price is $94.24.

Thomson Reuters (NASDAQ:TRI) last announced its earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts anticipate that Thomson Reuters Corp will post 4.44 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, May 20th. Thomson Reuters’s dividend payout ratio is presently 76.16%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TRI shares. Barclays reissued an “overweight” rating and set a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. Weiss Ratings cut shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Scotiabank set a $138.00 price target on Thomson Reuters and gave the company a “sector outperform” rating in a research note on Wednesday, May 6th. Wells Fargo & Company set a $85.00 price objective on Thomson Reuters and gave the stock an “equal weight” rating in a report on Tuesday, June 30th. Finally, UBS Group set a $185.74 price objective on Thomson Reuters and gave the stock a “buy” rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $143.92.

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.