Swiss National Bank reduces stakes in Thomson Reuters Co.
As of the 4th quarter of 2023, Swiss National Bank has reduced its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 7.0%, according to the company’s latest filing with the Securities & Exchange Commission. The company reported that it owns 713,386 shares of the business services provider’s stock after selling 53,312 shares during this reporting period. At the end of the most recent fiscal year, Swiss National Bank owned about 0.15% of Thomson Reuters which was worth a staggering $81,360,000.
Thomson Reuters (NYSE:TRI) (TSE:TRI), engaged in providing news and information for professional markets announced its quarterly earnings results on May 2nd, 2023. According to reports provided by sell-side analysts, they anticipate that Thomson Reuters Co is expected to post an EPS of around 3.31 for the current year.
The company operates through five segments which are Legal Professionals, Corporates, Tax and Accounting Professionals, Reuters News and Global Print. The Legal Professionals segment provides research and workflow products to law firms around the world as well as governments thus playing a significant role in their operations.
In its last financial report released for Q1/2023 on May 02nd , Thomson Reuters beat analysts’ consensus estimates and posted $0.82 earnings per share (EPS) for their stocks – surpassing predictions by $0.04 or more than 5%. This highlights that despite fluctuations in investor outlooks on certain companies; some still maintain their propensity towards growth over time- regardless of market disruption or other such limitations.
Thomson Reuters had previously earned $0.66 EPS during a similar quarter back in a previous year prior to its latest update which underscores an impressive growth curve over time; alluding to its position as one of the top players in news and information service provision for professional markets.
As investors monitor Thomson Reuters upcoming quarterly earnings results, they will likely be keen on the performance of its various segments particularly Legal Professionals given the significant role it plays in the company’s operations affirmed by Swiss National Bank’s holdings. With such promising numbers disclosed during these results and a portfolio that spans multiple sectors, Thomson Reuters remains a key player and one to watch out for in this space.
Thomson Reuters Increases Stake in Business Services Provider and Shows Impressive Market Standing
Thomson Reuters Increases Stake in Business Services Provider
As of May 10, 2023, Thomson Reuters has found itself with a number of institutional investors and hedge funds who have bought and sold shares of the company. Bank of Montreal Can recently increased its stake in shares of Thomson Reuters by 45.0% in the third quarter, now owning 7,593,951 shares valued at $785,341,000. Similarly, WCM Investment Management LLC has entered the picture with a new position in shares of Thomson Reuters in the fourth quarter valued at approximately $202,744,000. National Bank of Canada FI lifted its holdings in shares by an impressive 161.7% in Q4 and now owns 1,541,523 shares valued at $175,738,000 after purchasing an additional 952,541 shares. Goldman Sachs Group Inc. also lifted its holdings by nearly double from the second quarter to reach ownership of 1,331,569 shares valued at $138,763,000 after purchasing an additional 925,535 shares during Q4. Finally,
Canada Pension Plan Investment Board increased its position in Thomson Reuters by a whopping 3,557.3% during the third quarter. The board now owns a total of 4075 hundred stocks counting to over $42 million’s worth.
Institutional investors and hedge funds together now own around one-fifth (20.84%) or roughly $11 billion worth of Thomson Reuters’ stock.
At present day (May 10th), these shared belong to NYSE:TRI whose stocks have opened up at a value of $121.36 on Tuesday already showing an impressive hike from previous years; TRI had reported it’s stock prices to hit both highs and lows being listed as their highest price point and year-low being set at $133.55 and $91.55 respectively.
The enterprise currently holds a market cap of a monumental $57.14 billion, a PE ratio of 50.36 making it increasingly valuable with every passing moment, and a PEG ratio of 3.06 all counting towards the fact that Thomson Reuters is currently in great standing in the market.
One key factor contributing to its success is also its engagement in news and information for various professional markets through several segments– Legal Professionals, Corporates, Tax & Accounting Professionals, Thomson Reuters News and on Global Print. Its products focus on research and workflow aimed at law firms and government working towards making their work less tedious.
Moving onto the company’s financials, they recently announced a $.362 quarterly dividend. This payment will be issued on Thursday June 15th with shareholders who are registered as being record holders on May 18th receiving the dividends accordingly. Calculated based upon an annual basis has led to an impressive $1.45 payout and a potential yield of just about 1.19%. Thomson Reuters’s dividend payout ratio (DPR) currently sits at roughly 81.33%.
A number of analysts have previously commented on this massive growth experienced by TRI holding both positive and negative beliefs regarding the investment opportunity that comes along with it. StockNews.com praised or recommended the purchase of this stock in March this year but TD Securities provided a “hold” recommendation to investors in February urging them not to buy more stocks.
On May 3rd however, 51job reissued a “downgrade” rating lowering their trust in Thompson Reuter’s services which went against The Goldman Sachs Group’s recent appreciation suggesting an upgrade from $111 for stock targets as well as National Bank Financial raising Thomson Reuters from a “sector perform” rating to an “outperform” rating credentialing multiple reasons as to why this would result correctly.
When looking at attributed values given according to Bloomberg data points one can see that according to average ratings given by firms such as those listed above, a “Hold” is currently attributed as the company’s average rating. Consensus price targets sit at around $139.73 overall signifying its value and potential further growth in the future.
