1832 Asset Management L.P. Boosts Stake in Thomson Reuters Co. $TRI

1832 Asset Management L.P. grew its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 10.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,838,448 shares of the business services provider’s stock after buying an additional 173,331 shares during the period. 1832 Asset Management L.P.’s holdings in Thomson Reuters were worth $369,767,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC bought a new stake in Thomson Reuters in the 4th quarter worth approximately $448,000. LPL Financial LLC raised its stake in shares of Thomson Reuters by 44.9% during the first quarter. LPL Financial LLC now owns 40,096 shares of the business services provider’s stock worth $6,928,000 after acquiring an additional 12,424 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of Thomson Reuters by 188.6% in the 1st quarter. XTX Topco Ltd now owns 3,786 shares of the business services provider’s stock worth $654,000 after acquiring an additional 2,474 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Thomson Reuters by 19.4% in the 1st quarter. Natixis Advisors LLC now owns 17,223 shares of the business services provider’s stock valued at $2,976,000 after purchasing an additional 2,796 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Thomson Reuters by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 5,476,600 shares of the business services provider’s stock valued at $945,069,000 after purchasing an additional 94,758 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on TRI. BMO Capital Markets reissued an “outperform” rating on shares of Thomson Reuters in a research note on Wednesday, November 5th. Canaccord Genuity Group set a $174.00 price target on Thomson Reuters and gave the stock a “buy” rating in a research note on Tuesday, November 4th. TD Securities raised shares of Thomson Reuters from a “hold” rating to a “buy” rating and upped their price objective for the company from $275.00 to $285.00 in a research note on Thursday, August 28th. Huber Research raised Thomson Reuters to an “overweight” rating in a research note on Monday, October 20th. Finally, Royal Bank Of Canada lowered their price objective on shares of Thomson Reuters from $208.00 to $182.00 and set a “sector perform” rating for the company in a report on Wednesday, October 29th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Thomson Reuters currently has a consensus rating of “Moderate Buy” and an average price target of $195.27.

Thomson Reuters Price Performance

Shares of NYSE:TRI opened at $133.32 on Wednesday. Thomson Reuters Co. has a twelve month low of $131.11 and a twelve month high of $218.42. The stock has a market capitalization of $59.31 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average price is $148.02 and its 200-day moving average price is $174.77.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Tuesday, November 4th. The business services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.81 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a dividend of $0.595 per share. The ex-dividend date is Tuesday, November 18th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.8%. Thomson Reuters’s dividend payout ratio (DPR) is presently 61.18%.

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.