Intech Investment Management LLC has increased its stake in Thomson Reuters Co. by 4.7%, now holding a position valued at approximately $13.62 million. As of the end of the second quarter, Intech owned 67,872 shares of the business services provider after purchasing an additional 3,077 shares during the period. This move reflects broader activity among institutional investors in Thomson Reuters, with several hedge funds adjusting their positions in the company.
Cullen Frost Bankers Inc. made a significant adjustment as well, boosting its holdings in Thomson Reuters by an impressive 772.2% during the first quarter. The bank now possesses 157 shares, valued at approximately $27,000, after acquiring an additional 139 shares. Curio Wealth LLC reported an astonishing 16,200.0% increase in its stake, bringing its total to 163 shares worth about $33,000.
Other notable movements included Westside Investment Management Inc.’s acquisition of a new position valued at around $34,000 and Ameritas Advisory Services LLC, which also purchased a new stake worth about $37,000. Additionally, SBI Securities Co. Ltd. raised its holdings by 41.3% in the first quarter, now owning 236 shares valued at approximately $41,000. Collectively, institutional investors and hedge funds now own 17.31% of Thomson Reuters.
Analyst Ratings and Stock Performance
Recent reports from equity analysts have also influenced investor sentiment regarding Thomson Reuters. On September 9, Wells Fargo & Company upgraded the stock from an “equal weight” rating to an “overweight” rating, while increasing the price target from $187.00 to $212.00. Conversely, Royal Bank of Canada adjusted its target price downwards from $208.00 to $182.00, maintaining a “sector perform” rating.
Goldman Sachs Group set a price target of $186.00 and rated the stock as a “buy.” BMO Capital Markets echoed this sentiment with an “outperform” rating, while Canaccord Genuity Group established a price objective of $174.00. Currently, ten analysts have rated the stock as a buy, while four have issued hold ratings, leading to a consensus rating of “Moderate Buy” with a target price of $195.27, according to MarketBeat.com.
On the trading front, Thomson Reuters shares opened at $141.13 on Friday. The stock has experienced a 0.4% increase, reflecting a market capitalization of $63.04 billion. The company’s P/E ratio stands at 28.86, with a P/E/G ratio of 5.67 and a beta of 0.74. Thomson Reuters has also reported a 52-week low of $134.50 and a high of $218.42.
Recent Earnings and Dividend Announcement
Thomson Reuters released its earnings results on November 4, reporting earnings per share (EPS) of $0.85 for the quarter, surpassing the consensus estimate of $0.81 by $0.04. The company achieved a return on equity of 14.62% and a net margin of 30.45%, with quarterly revenue reaching $1.80 billion, compared to analysts’ expectations of $1.78 billion. This revenue figure reflects a growth of 3.4% compared to the same quarter last year.
In terms of future guidance, Thomson Reuters has set its fiscal year 2025 EPS estimates at $3.89, as anticipated by sell-side analysts. Moreover, the company recently announced a quarterly dividend of $0.595 per share, payable on December 10. Shareholders on record as of November 18 will receive this dividend, resulting in an annualized dividend of $2.38 and a yield of 1.7%. The current dividend payout ratio stands at 61.18%.
Thomson Reuters Corporation is a leading provider of business information services across the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print, offering a range of products tailored to various sectors.
For those interested in tracking hedge fund activities related to Thomson Reuters, further details can be found on HoldingsChannel.com, which provides updates on 13F filings and insider trades.
