Dearborn Partners LLC Has $16.04 Million Stake in Thomson Reuters Corp $TRI

Dearborn Partners LLC reduced its stake in Thomson Reuters Corp (NASDAQ:TRI) by 13.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 196,417 shares of the company’s stock after selling 29,741 shares during the quarter. Dearborn Partners LLC’s holdings in Thomson Reuters were worth $16,041,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TRI. Vanguard Group Inc. raised its stake in Thomson Reuters by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company’s stock valued at $762,320,000 after purchasing an additional 85,684 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Thomson Reuters by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 493,071 shares of the company’s stock valued at $65,031,000 after buying an additional 46,680 shares during the period. Alberta Investment Management Corp bought a new position in Thomson Reuters in the 2nd quarter valued at about $38,770,000. Benjamin Edwards Inc. raised its position in shares of Thomson Reuters by 43.3% in the 4th quarter. Benjamin Edwards Inc. now owns 291,641 shares of the company’s stock valued at $38,541,000 after buying an additional 88,085 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Thomson Reuters by 56.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 359,050 shares of the company’s stock valued at $47,452,000 after buying an additional 128,835 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of NASDAQ:TRI opened at $104.78 on Friday. The company has a market cap of $45.64 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 1.50 and a beta of 0.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a 50 day simple moving average of $95.10 and a 200 day simple moving average of $92.37. Thomson Reuters Corp has a one year low of $76.28 and a one year high of $180.00.

Thomson Reuters (NASDAQ:TRI) last issued its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. Research analysts predict that Thomson Reuters Corp will post 4.45 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $0.655 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.62 annualized dividend and a dividend yield of 2.5%. Thomson Reuters’s dividend payout ratio (DPR) is 69.68%.

Wall Street Analysts Forecast Growth

TRI has been the topic of several analyst reports. TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Scotiabank restated a “sector outperform” rating and set a $135.00 price objective on shares of Thomson Reuters in a research report on Thursday, August 6th. Scotia cut their target price on Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 6th. Canaccord Genuity Group reduced their target price on Thomson Reuters from $134.00 to $132.50 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Bank of America lowered their price target on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Thomson Reuters has a consensus rating of “Moderate Buy” and an average target price of $131.57.

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.