International Assets Investment Management LLC Makes New Investment in Thomson Reuters Co. (NYSE:TRI)

International Assets Investment Management LLC acquired a new position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 171,453 shares of the business services provider’s stock, valued at approximately $29,250,000.

A number of other hedge funds have also recently added to or reduced their stakes in TRI. Blair William & Co. IL boosted its stake in shares of 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 valued at $385,000 after purchasing an additional 66 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Thomson Reuters by 1.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock valued at $1,252,000 after purchasing an additional 74 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Thomson Reuters by 4.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock valued at $277,000 after purchasing an additional 75 shares during the last quarter. Avitas Wealth Management LLC boosted its stake in shares of Thomson Reuters by 0.4% in the 2nd quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock valued at $3,508,000 after purchasing an additional 79 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $166.44 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $74.83 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 5.54 and a beta of 0.73. The company’s 50 day moving average price is $168.83 and its two-hundred day moving average price is $166.00. Thomson Reuters Co. has a 52 week low of $118.54 and a 52 week high of $176.03.

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, topping the consensus estimate of $0.82 by $0.03. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $0.84 EPS. On average, analysts expect that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The business also recently announced 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. The ex-dividend date was Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.35%. Thomson Reuters’s dividend payout ratio (DPR) is currently 41.14%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TRI. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $164.00 to $182.00 in a research note on Tuesday, August 27th. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. increased 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, Royal Bank of Canada increased 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, October 23rd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.