David Franklin Wong Sells 2,417 Shares of Thomson Reuters Co. (TSE:TRI) Stock

On November 6th, 2023, David Franklin Wong, a Senior Officer at Thomson Reuters Co. (TSE:TRI, NYSE:TRI), made a significant transaction by selling 2,417 shares of the company's stock. The shares were sold at an average price of C$165.58, amounting to a total value of C$400,206.86.

Thomson Reuters Trading Performance

During trading on Friday, Thomson Reuters stock saw a modest increase of 0.2%, rising by C$0.50 to reach C$234.03. The trading volume for TRI stock was reported at 205,000 shares, which is lower than its average trading volume of 311,758 shares. The company’s fifty-day simple moving average is C$230.84, while the 200-day moving average stands at C$227.77. Over the past year, Thomson Reuters shares hit a low of C$177.83 and a high of C$242.92. The market capitalization is currently C$105.25 billion, with a price-to-earnings (PE) ratio of 33.01.

Dividend Announcement

Thomson Reuters has recently announced a quarterly dividend of $0.73, scheduled to be paid on December 10th. Shareholders on record as of November 21st will receive this dividend, while the ex-dividend date also falls on November 21st. This dividend increase from the previous amount of $0.20 signifies a positive trend in the company's financial health, giving an annualized dividend of $2.92 and a dividend yield of 1.25%. The company has a dividend payout ratio (DPR) of 41.33%.

Analyst Ratings Updates

Equities analysts have recently made various updates regarding Thomson Reuters. Scotiabank has upgraded the stock from a "hold" to a "strong buy" rating in a note dated August 27th. Additionally, TD Securities raised its price target for the company from C$235.00 to C$250.00. Similarly, BMO Capital Markets increased its target from C$251.00 to C$256.00, while National Bankshares adjusted its target from C$219.00 to C$231.00, issuing a "sector perform" rating. National Bank Financial has also upgraded Thomson Reuters from a "hold" to a "strong buy" rating in September. Currently, five analysts have rated the stock with a hold rating, one assigned a buy rating, and two provided a strong buy recommendation. The consensus rating for Thomson Reuters stock is a "Moderate Buy," with a target price averaging C$197.50.

Understanding Thomson Reuters

Thomson Reuters Corporation offers a variety of business information services across different regions, including the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in five key segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment focuses on providing research and innovative workflow products that support legal research and integrated legal tools for law firms and governmental entities.

Thomson, Reuters, Stocks