Ashton Thomas Private Wealth LLC Purchases New Holdings in Thomson Reuters Co. (NYSE:TRI)

Ashton Thomas Private Wealth LLC purchased a new stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 433 shares of the business services provider’s stock, valued at approximately $73,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Thomson Reuters in the fourth quarter valued at approximately $160,372,000. TD Asset Management Inc boosted its stake in Thomson Reuters by 30.8% in the fourth quarter. TD Asset Management Inc now owns 3,752,472 shares of the business services provider’s stock valued at $551,317,000 after acquiring an additional 884,572 shares during the last quarter. FIL Ltd boosted its stake in Thomson Reuters by 9.8% in the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after acquiring an additional 445,444 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Thomson Reuters by 53.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 969,443 shares of the business services provider’s stock valued at $141,752,000 after acquiring an additional 338,896 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new position in Thomson Reuters in the second quarter valued at approximately $45,514,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $164.00 to $182.00 in a report on Tuesday, August 27th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $173.45.

Thomson Reuters Stock Down 0.6 %

NYSE:TRI opened at $172.70 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 market cap of $77.66 billion, a PE ratio of 32.90, a PEG ratio of 6.19 and a beta of 0.73. The stock has a 50-day simple moving average of $165.14 and a 200 day simple moving average of $163.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 EPS. On average, sell-side analysts expect that Thomson Reuters Co. will post 3.72 EPS for the current fiscal year.

Thomson Reuters Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $0.146 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.58 dividend on an annualized basis and a yield of 0.34%. Thomson Reuters’s dividend payout ratio is currently 41.14%.

Thomson Reuters Company 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.