Commonwealth Equity Services LLC Purchases 141 Shares of Thomson Reuters Co. (NYSE:TRI)

Commonwealth Equity Services LLC increased its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,925 shares of the business services provider’s stock after acquiring an additional 141 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Thomson Reuters were worth $1,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TRI. Janus Henderson Group PLC raised its holdings in Thomson Reuters by 23.8% during the 1st quarter. Janus Henderson Group PLC now owns 16,770 shares of the business services provider’s stock worth $2,612,000 after buying an additional 3,223 shares during the period. FIL Ltd grew its stake in shares of Thomson Reuters by 9.8% in the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after buying an additional 445,444 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Thomson Reuters by 11.4% in the fourth quarter. CIBC Asset Management Inc now owns 581,703 shares of the business services provider’s stock valued at $85,320,000 after buying an additional 59,388 shares in the last quarter. Gillson Capital LP bought a new position in shares of Thomson Reuters in the fourth quarter valued at $15,063,000. Finally, Bessemer Group Inc. grew its stake in shares of Thomson Reuters by 874.0% in the first quarter. Bessemer Group Inc. now owns 130,744 shares of the business services provider’s stock valued at $20,351,000 after buying an additional 117,320 shares in the last quarter. Institutional investors own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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 research 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 dropped their price target on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Finally, Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $164.00 to $182.00 in a research note on Tuesday, August 27th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Thomson Reuters currently has an average rating of “Hold” and a consensus target price of $173.45.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $172.70 on Monday. The business has a 50 day moving average of $165.14 and a 200-day moving average of $163.22. Thomson Reuters Co. has a 1 year low of $117.46 and a 1 year high of $176.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $77.66 billion, a P/E ratio of 32.90, a P/E/G ratio of 6.19 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced 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. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts predict that Thomson Reuters Co. will post 3.72 earnings per share 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 0.34%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s payout ratio is 41.14%.

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.