Bridges Investment Management Inc. Boosts Stock Position in Thomson Reuters Co. (NYSE:TRI)

Bridges Investment Management Inc. grew its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,207 shares of the business services provider’s stock after buying an additional 141 shares during the quarter. Bridges Investment Management Inc.’s holdings in Thomson Reuters were worth $372,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rothschild Investment LLC acquired a new position in Thomson Reuters during the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC increased its holdings in Thomson Reuters by 76.9% in the first 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 during the last quarter. Gold Investment Management Ltd. acquired a new stake in Thomson Reuters during the fourth quarter valued at approximately $41,000. Principal Securities Inc. bought a new position in Thomson Reuters during the 4th quarter worth approximately $48,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Thomson Reuters in the 2nd quarter worth approximately $73,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Trading Down 0.5 %

NYSE:TRI opened at $169.46 on Friday. The stock has a market cap of $76.19 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 5.82 and a beta of 0.73. 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 Co. has a 1 year low of $117.46 and a 1 year high of $176.03. The business has a fifty day moving average of $165.46 and a 200-day moving average of $163.59.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. Thomson Reuters’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.84 EPS. Equities analysts predict that Thomson Reuters Co. will post 3.71 earnings per share for the current year.

Thomson Reuters Cuts Dividend

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

Analysts Set New Price Targets

A number of research firms have commented on TRI. JPMorgan Chase & Co. lifted their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock 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 report 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 report on Friday, August 2nd. Finally, Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and upped 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $173.45.

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.