Griffin Asset Management Inc. Increases Stock Position in Thomson Reuters Co. (NYSE:TRI)

Griffin Asset Management Inc. increased its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,902 shares of the business services provider’s stock after buying an additional 150 shares during the quarter. Griffin Asset Management Inc.’s holdings in Thomson Reuters were worth $920,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRI. Trust Co. of Vermont purchased a new position in shares of Thomson Reuters in the 3rd quarter worth about $27,000. Pacifica Partners Inc. increased its position in Thomson Reuters by 162.0% during the 4th quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock worth $34,000 after purchasing an additional 149 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Thomson Reuters in the fourth quarter valued at approximately $37,000. GPS Wealth Strategies Group LLC acquired a new position in Thomson Reuters during the fourth quarter valued at approximately $38,000. Finally, Gold Investment Management Ltd. purchased a new stake in Thomson Reuters during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group raised their target price on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. National Bank Financial raised Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, April 23rd. Canaccord Genuity Group upped their target price on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. UBS Group raised their target price on Thomson Reuters from $177.00 to $190.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada upped their price target on Thomson Reuters from $153.00 to $156.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 30th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $170.64.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $168.57 on Friday. Thomson Reuters Co. has a 52 week low of $117.46 and a 52 week high of $176.03. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The stock has a market cap of $75.79 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 6.44 and a beta of 0.71. The stock has a 50 day moving average of $166.65 and a 200-day moving average of $156.86.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.17. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. On average, analysts expect that Thomson Reuters Co. will post 3.67 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Wednesday, May 15th. Thomson Reuters’s dividend payout ratio is currently 40.57%.

About Thomson Reuters

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.