Exchange Traded Concepts LLC Purchases 167 Shares of Thomson Reuters Co. (NYSE:TRI)

Exchange Traded Concepts LLC grew its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 104.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 327 shares of the business services provider’s stock after buying an additional 167 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Thomson Reuters were worth $56,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blair William & Co. IL boosted its holdings in Thomson Reuters by 3.0% in the 2nd quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock worth $385,000 after buying an additional 66 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Thomson Reuters by 1.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock worth $1,252,000 after purchasing an additional 74 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Thomson Reuters by 4.8% during the second quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock worth $277,000 after purchasing an additional 75 shares during the last quarter. Avitas Wealth Management LLC raised its stake in shares of Thomson Reuters by 0.4% during the second quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock valued at $3,508,000 after acquiring an additional 79 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of 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 acquiring an additional 80 shares in the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Stock Up 0.2 %

Shares of TRI opened at $167.13 on Thursday. The company’s 50-day simple moving average is $168.71 and its 200-day simple moving average is $165.67. 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 stock has a market capitalization of $75.19 billion, a PE ratio of 32.08, a P/E/G ratio of 5.67 and a beta of 0.73.

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

Thomson Reuters Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a $0.146 dividend. This represents a $0.58 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s dividend payout ratio (DPR) is presently 41.46%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price target on shares of Thomson Reuters from $168.00 to $171.00 and gave the company a “sector perform” rating in a research report on Wednesday. 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 research report on Tuesday, August 27th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $173.73.

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.