Magnetar Financial LLC Acquires 53,811 Shares of Thomson Reuters Co. $TRI

Magnetar Financial LLC raised its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 632.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,316 shares of the business services provider’s stock after buying an additional 53,811 shares during the period. Magnetar Financial LLC’s holdings in Thomson Reuters were worth $10,767,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Cullen Frost Bankers Inc. increased its position in shares of Thomson Reuters by 772.2% in the first quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 139 shares during the last quarter. Investment Management Corp VA ADV bought a new position in Thomson Reuters in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. increased its position in shares of Thomson Reuters by 41.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider’s stock worth $41,000 after purchasing an additional 69 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Thomson Reuters by 25.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider’s stock worth $71,000 after purchasing an additional 84 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Thomson Reuters by 42.8% in the 1st quarter. Fifth Third Bancorp now owns 484 shares of the business services provider’s stock valued at $84,000 after buying an additional 145 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRI has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Barclays lifted their price target on Thomson Reuters from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Canaccord Genuity Group boosted their price target on Thomson Reuters from $181.00 to $182.00 and gave the stock a “hold” rating in a research report on Thursday, August 7th. National Bankshares reaffirmed an “outperform” rating on shares of Thomson Reuters in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on Thomson Reuters from $177.00 to $178.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.90.

Thomson Reuters Stock Performance

NYSE:TRI opened at $178.26 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $192.81 and a 200 day simple moving average of $185.44. Thomson Reuters Co. has a 1-year low of $151.60 and a 1-year high of $218.42. The stock has a market cap of $80.33 billion, a P/E ratio of 36.45, a PEG ratio of 5.67 and a beta of 0.77.

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

Thomson Reuters Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, August 19th. Thomson Reuters’s dividend payout ratio is presently 65.75%.

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.