Axxcess Wealth Management LLC Raises Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Axxcess Wealth Management LLC raised its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 4.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,068 shares of the business services provider’s stock after purchasing an additional 136 shares during the period. Axxcess Wealth Management LLC’s holdings in Thomson Reuters were worth $523,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC purchased a new stake in shares of Thomson Reuters during the second quarter worth about $25,000. EverSource Wealth Advisors LLC increased its position in Thomson Reuters by 76.9% during the 1st 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 in the last quarter. Asset Dedication LLC raised its position in shares of Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock worth $40,000 after purchasing an additional 130 shares during the last quarter. Clean Yield Group purchased a new position in Thomson Reuters in the 3rd quarter worth approximately $42,000. Finally, Exchange Traded Concepts LLC raised its stake in shares of Thomson Reuters by 104.4% in the third quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock worth $56,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Down 0.7 %

Shares of Thomson Reuters stock opened at $168.39 on Thursday. Thomson Reuters Co. has a 52-week low of $132.87 and a 52-week high of $176.03. The firm’s 50 day moving average price is $168.62 and its 200-day moving average price is $167.14. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The company has a market cap of $75.75 billion, a P/E ratio of 33.15, a PEG ratio of 5.73 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business posted $0.82 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict that Thomson Reuters Co. will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a $0.54 dividend. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, November 21st. Thomson Reuters’s dividend payout ratio (DPR) is presently 42.52%.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada upped their price objective on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Finally, Scotiabank upped their target price on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $176.33.

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.