Thoroughbred Financial Services LLC Takes $563,000 Position in Thomson Reuters Co. (NYSE:TRI)

Thoroughbred Financial Services LLC bought a new position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,344 shares of the business services provider’s stock, valued at approximately $563,000.

Other institutional investors have also added to or reduced their stakes in the company. Rothschild Investment LLC bought a new position in shares of Thomson Reuters in the second quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its position in shares of Thomson Reuters by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after buying an additional 80 shares in the last quarter. Gold Investment Management Ltd. bought a new stake in shares of Thomson Reuters during the 4th quarter worth $41,000. Principal Securities Inc. bought a new position in Thomson Reuters in the fourth quarter valued at $48,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Thomson Reuters during the second quarter valued at about $73,000. 17.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Thomson Reuters Stock Up 0.1 %

TRI stock opened at $172.85 on Tuesday. Thomson Reuters Co. has a fifty-two week low of $117.46 and a fifty-two week high of $176.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50 day moving average price is $165.24 and its two-hundred day moving average price is $163.33. The company has a market capitalization of $77.71 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 6.19 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 EPS. As a group, analysts forecast that Thomson Reuters Co. will post 3.72 earnings per share 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. This represents a $0.58 annualized dividend and a yield of 0.34%. The ex-dividend date was Thursday, August 15th. Thomson Reuters’s dividend payout ratio (DPR) is 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.