Thomson Reuters Co. (NYSE:TRI) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 104.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 327 shares of the business services provider’s stock after acquiring an additional 167 shares during the period. Exchange Traded Concepts LLC’s holdings in Thomson Reuters were worth $56,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in shares of 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 valued at $2,612,000 after acquiring an additional 3,223 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Thomson Reuters by 874.0% during the 1st 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 during the last quarter. &PARTNERS acquired a new stake in shares of Thomson Reuters during the second quarter worth approximately $278,000. Quantbot Technologies LP bought a new stake in shares of Thomson Reuters in the first quarter worth $610,000. Finally, Forsta AP Fonden raised its holdings in Thomson Reuters by 151.2% in the first quarter. Forsta AP Fonden now owns 78,588 shares of the business services provider’s stock valued at $12,242,000 after acquiring an additional 47,300 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $164.00 to $182.00 in a report on Tuesday, August 27th. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Royal Bank of Canada upped their price objective on Thomson Reuters from $168.00 to $171.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $173.73.

Thomson Reuters Stock Up 0.2 %

NYSE:TRI opened at $167.13 on Thursday. The firm has a market capitalization of $75.19 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 5.67 and a beta of 0.73. Thomson Reuters Co. has a 52 week low of $117.46 and a 52 week high of $176.03. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $168.71 and a 200-day moving average of $165.67.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS. Analysts predict that Thomson Reuters Co. will post 3.71 EPS for the current 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 given a $0.146 dividend. This represents a $0.58 annualized dividend and a yield of 0.35%. The ex-dividend date was Thursday, August 15th. Thomson Reuters’s dividend payout ratio is currently 41.46%.

About Thomson Reuters

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.