Seven Eight Capital LP Buys Shares of 10,565 Thomson Reuters Co. (NYSE:TRI)

Seven Eight Capital LP bought a new position 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 and Exchange Commission (SEC). The institutional investor bought 10,565 shares of the business services provider’s stock, valued at approximately $1,781,000.

A number of other hedge funds also recently made changes to their positions in TRI. Rothschild Investment LLC bought a new position in Thomson Reuters in the 2nd quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Thomson Reuters by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after buying an additional 80 shares in the last quarter. Gold Investment Management Ltd. bought a new position in shares of Thomson Reuters in the 4th quarter valued at $41,000. Principal Securities Inc. acquired a new stake in shares of Thomson Reuters during the 4th quarter valued at $48,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Thomson Reuters in the 2nd quarter worth about $73,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Thomson Reuters Price Performance

Shares of NYSE TRI opened at $168.25 on Thursday. The company has a market capitalization of $75.66 billion, a PE ratio of 32.05, a P/E/G ratio of 5.82 and a beta of 0.73. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16. Thomson Reuters Co. has a twelve month low of $117.46 and a twelve month high of $176.03. The firm has a fifty day simple moving average of $165.27 and a 200 day simple moving average of $163.42.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the business earned $0.84 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that Thomson Reuters Co. will post 3.71 EPS for the current year.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.146 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Thursday, August 15th. Thomson Reuters’s payout ratio is 41.14%.

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.