Truist Financial Corp Has $1.48 Million Stock Position in Thomson Reuters Co. (NYSE:TRI)

Truist Financial Corp trimmed its position in Thomson Reuters Co. (NYSE:TRIGet Rating) (TSE:TRI) by 95.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,455 shares of the business services provider’s stock after selling 294,906 shares during the quarter. Truist Financial Corp’s holdings in Thomson Reuters were worth $1,484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its holdings in Thomson Reuters by 189.7% during the third quarter. Hexagon Capital Partners LLC now owns 336 shares of the business services provider’s stock worth $34,000 after buying an additional 220 shares during the last quarter. Charter Oak Capital Management LLC bought a new position in Thomson Reuters during the second quarter worth about $35,000. Glassman Wealth Services boosted its holdings in Thomson Reuters by 64.1% during the second quarter. Glassman Wealth Services now owns 343 shares of the business services provider’s stock worth $36,000 after buying an additional 134 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in Thomson Reuters during the second quarter worth about $55,000. Finally, Venture Visionary Partners LLC bought a new position in Thomson Reuters during the second quarter worth about $63,000. 20.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on TRI. Barclays raised their target price on Thomson Reuters from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, December 2nd. Scotiabank reiterated a “sector perform” rating and set a $126.00 price objective on shares of Thomson Reuters in a report on Monday, December 19th. The Goldman Sachs Group lifted their price objective on Thomson Reuters from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Tuesday, January 10th. BNP Paribas cut Thomson Reuters from a “neutral” rating to an “underperform” rating in a report on Thursday, December 1st. Finally, Exane BNP Paribas cut Thomson Reuters from a “neutral” rating to an “underperform” rating in a report on Thursday, December 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $131.11.

Thomson Reuters Trading Down 0.9 %

NYSE TRI opened at $117.13 on Thursday. The stock has a market capitalization of $55.93 billion, a price-to-earnings ratio of 60.69, a PEG ratio of 3.29 and a beta of 0.59. The stock’s 50 day moving average price is $114.64 and its two-hundred day moving average price is $110.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.68 and a current ratio of 0.68. Thomson Reuters Co. has a 52 week low of $91.55 and a 52 week high of $119.87.

Thomson Reuters (NYSE:TRIGet Rating) (TSE:TRI) last posted its quarterly earnings results on Tuesday, November 1st. The business services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.59 billion. Thomson Reuters had a return on equity of 8.10% and a net margin of 14.38%. As a group, analysts anticipate that Thomson Reuters Co. will post 2.47 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th were given a dividend of $0.322 per share. This represents a $1.29 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Wednesday, November 16th. Thomson Reuters’s dividend payout ratio (DPR) is 92.23%.

Thomson Reuters Company Profile

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Thomson Reuters Corporation provides 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.

See Also

Institutional Ownership by Quarter for Thomson Reuters (NYSE:TRI)

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