Goldman Sachs Group Inc. Trims Position in Thomson Reuters Corp $TRI

Goldman Sachs Group Inc. cut its holdings in shares of Thomson Reuters Corp (NASDAQ:TRI) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,319,776 shares of the company’s stock after selling 90,510 shares during the quarter. Goldman Sachs Group Inc. owned 0.52% of Thomson Reuters worth $305,955,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TRI. Vanguard Group Inc. lifted its holdings in shares of 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. Profund Advisors LLC bought a new stake in Thomson Reuters during the third quarter worth $5,061,000. ProShare Advisors LLC bought a new stake in Thomson Reuters during the third quarter worth $75,839,000. ING Groep NV bought a new stake in Thomson Reuters during the third quarter worth $3,667,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Thomson Reuters during the third quarter worth $5,593,000. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Stock Performance

NASDAQ:TRI opened at $86.04 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 0.60. Thomson Reuters Corp has a 52-week low of $78.60 and a 52-week high of $218.42. The firm has a market cap of $37.53 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 1.28 and a beta of 0.77. The business’s fifty day moving average is $89.40 and its 200 day moving average is $107.21.

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

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, May 20th. Thomson Reuters’s payout ratio is presently 76.16%.

Wall Street Analyst Weigh In

A number of analysts recently commented on TRI shares. Scotiabank set a $138.00 price target on Thomson Reuters and gave the stock a “sector outperform” rating in a report on Wednesday, May 6th. TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a report on Wednesday, May 6th. Weiss Ratings lowered Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th. BMO Capital Markets set a $167.47 price target on Thomson Reuters in a report on Friday, February 6th. Finally, Morgan Stanley set a $117.74 target price on Thomson Reuters in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.84.

Thomson Reuters Profile

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.