Proficio Capital Partners LLC Invests $9.83 Million in Thomson Reuters Co. (NYSE:TRI)

Proficio Capital Partners LLC bought a new position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 61,265 shares of the business services provider’s stock, valued at approximately $9,826,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TRI. Janney Montgomery Scott LLC increased its position in shares of Thomson Reuters by 5.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 7,146 shares of the business services provider’s stock worth $1,219,000 after purchasing an additional 369 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Thomson Reuters by 2.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,700 shares of the business services provider’s stock worth $972,000 after purchasing an additional 140 shares during the last quarter. Swiss National Bank increased its position in shares of Thomson Reuters by 0.4% in the 3rd quarter. Swiss National Bank now owns 476,055 shares of the business services provider’s stock worth $81,331,000 after purchasing an additional 2,000 shares during the last quarter. Caprock Group LLC increased its position in shares of Thomson Reuters by 7.6% in the 3rd quarter. Caprock Group LLC now owns 3,506 shares of the business services provider’s stock worth $598,000 after purchasing an additional 248 shares during the last quarter. Finally, Prospera Financial Services Inc increased its position in shares of Thomson Reuters by 10.4% in the 3rd quarter. Prospera Financial Services Inc now owns 2,964 shares of the business services provider’s stock worth $506,000 after purchasing an additional 280 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

TRI has been the subject of several research reports. Wells Fargo & Company lifted their price target on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Scotiabank lifted their price target on shares of Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a report on Friday, February 7th. CIBC lifted their price target on shares of Thomson Reuters from $165.00 to $174.00 in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on shares of Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Canaccord Genuity Group lifted their price target on shares of Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Thomson Reuters presently has an average rating of “Hold” and an average target price of $177.56.

Thomson Reuters Trading Up 1.3 %

Thomson Reuters stock opened at $172.17 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $169.55 and a two-hundred day moving average price of $167.78. The firm has a market capitalization of $77.49 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 5.67 and a beta of 0.70. Thomson Reuters Co. has a 52-week low of $149.50 and a 52-week high of $180.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Sell-side analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 20th were paid a $0.595 dividend. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Thursday, February 20th. Thomson Reuters’s dividend payout ratio is currently 48.67%.

Thomson Reuters 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.