Truist Financial Corp Buys 500 Shares of Thomson Reuters Co. (NYSE:TRI)

Truist Financial Corp lifted its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,496 shares of the business services provider’s stock after acquiring an additional 500 shares during the period. Truist Financial Corp’s holdings in Thomson Reuters were worth $1,523,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Investment Advisors MI grew its stake in Thomson Reuters by 2.7% in the fourth quarter. Strategic Investment Advisors MI now owns 2,318 shares of the business services provider’s stock valued at $372,000 after acquiring an additional 62 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Thomson Reuters by 5.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,196 shares of the business services provider’s stock valued at $192,000 after purchasing an additional 64 shares in the last quarter. SkyView Investment Advisors LLC lifted its holdings in shares of Thomson Reuters by 1.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,235 shares of the business services provider’s stock valued at $722,000 after purchasing an additional 66 shares in the last quarter. PDS Planning Inc grew its position in shares of Thomson Reuters by 5.7% in the 3rd quarter. PDS Planning Inc now owns 2,237 shares of the business services provider’s stock valued at $382,000 after purchasing an additional 121 shares during the period. Finally, West Family Investments Inc. increased its stake in Thomson Reuters by 3.1% during the 3rd quarter. West Family Investments Inc. now owns 4,216 shares of the business services provider’s stock worth $719,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Canaccord Genuity Group increased their target price on Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their price target on Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, CIBC increased their price objective on Thomson Reuters from $165.00 to $174.00 in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $182.09.

Thomson Reuters Stock Performance

TRI opened at $176.44 on Friday. The business’s 50-day simple moving average is $166.78 and its 200 day simple moving average is $167.03. Thomson Reuters Co. has a 52-week low of $149.50 and a 52-week high of $180.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The firm has a market capitalization of $79.40 billion, a PE ratio of 36.08, a PEG ratio of 5.67 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. As a group, sell-side analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 1.35%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, February 20th. Thomson Reuters’s payout ratio is 48.67%.

Thomson Reuters Profile

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.