Kestra Private Wealth Services LLC Purchases 2,804 Shares of Thomson Reuters Co. (NYSE:TRI)

Kestra Private Wealth Services LLC grew its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 97.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,678 shares of the business services provider’s stock after acquiring an additional 2,804 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Thomson Reuters were worth $830,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TRI. Bank of Nova Scotia bought a new stake in Thomson Reuters during the 3rd quarter worth approximately $170,036,000. FMR LLC lifted its holdings in Thomson Reuters by 26.3% during the 3rd quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock valued at $692,059,000 after purchasing an additional 1,179,155 shares during the last quarter. Legal & General Group Plc increased its position in Thomson Reuters by 6,607,664.7% during the 3rd quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock worth $138,048,000 after buying an additional 1,123,303 shares during the period. Mackenzie Financial Corp increased its position in Thomson Reuters by 17.3% during the 3rd quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock worth $755,514,000 after buying an additional 919,603 shares during the period. Finally, Toronto Dominion Bank increased its position in Thomson Reuters by 361.6% during the 3rd quarter. Toronto Dominion Bank now owns 1,142,194 shares of the business services provider’s stock worth $139,713,000 after buying an additional 894,776 shares during the period. 17.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TRI shares. Canaccord Genuity Group increased their price objective on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research report on Friday. UBS Group increased their price objective on Thomson Reuters from $177.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on Thomson Reuters from $152.00 to $163.00 and gave the stock a “neutral” rating in a research report on Friday. Scotiabank raised their price target on Thomson Reuters from $159.00 to $164.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Canaccord Genuity Group raised their price target on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research report on Friday. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $164.31.

Thomson Reuters Stock Performance

NYSE:TRI opened at $164.74 on Friday. The stock’s 50-day simple moving average is $155.38 and its 200 day simple moving average is $146.37. The firm has a market capitalization of $74.35 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 4.29 and a beta of 0.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. Thomson Reuters Co. has a twelve month low of $117.46 and a twelve month high of $166.11.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.17. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Thomson Reuters had a return on equity of 15.43% and a net margin of 34.87%. Thomson Reuters’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. On average, analysts anticipate that Thomson Reuters Co. will post 3.58 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Wednesday, May 15th. Thomson Reuters’s payout ratio is 41.33%.

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.