HB Wealth Management LLC Buys 159 Shares of Thomson Reuters Co. $TRI

HB Wealth Management LLC grew its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 11.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,598 shares of the business services provider’s stock after buying an additional 159 shares during the period. HB Wealth Management LLC’s holdings in Thomson Reuters were worth $322,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc increased its stake in Thomson Reuters by 15.7% during the first quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider’s stock valued at $951,477,000 after acquiring an additional 750,063 shares during the period. Vanguard Group Inc. grew its holdings in shares of Thomson Reuters by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 5,476,600 shares of the business services provider’s stock worth $945,069,000 after purchasing an additional 94,758 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Thomson Reuters by 1.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,537,660 shares of the business services provider’s stock valued at $437,985,000 after purchasing an additional 44,898 shares during the period. 1832 Asset Management L.P. increased its position in shares of Thomson Reuters by 1.0% during the first quarter. 1832 Asset Management L.P. now owns 1,665,117 shares of the business services provider’s stock valued at $287,699,000 after purchasing an additional 17,223 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Thomson Reuters by 36.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,588,508 shares of the business services provider’s stock valued at $274,462,000 after purchasing an additional 421,279 shares in the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group lifted their price target on shares of Thomson Reuters from $181.00 to $182.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. Royal Bank Of Canada reduced their price objective on shares of Thomson Reuters from $215.00 to $208.00 and set a “sector perform” rating for the company in a report on Thursday, August 7th. Morgan Stanley reduced their price objective on shares of Thomson Reuters from $197.00 to $187.00 and set an “equal weight” rating for the company in a report on Thursday, September 11th. Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $188.00 to $200.00 in a research report on Wednesday, August 6th. Finally, TD Securities raised shares of Thomson Reuters from a “hold” rating to a “buy” rating and increased their price target for the stock from $275.00 to $285.00 in a research report on Thursday, August 28th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Thomson Reuters presently has an average rating of “Moderate Buy” and an average target price of $202.82.

Thomson Reuters Price Performance

TRI opened at $152.03 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The stock has a market capitalization of $68.26 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. The company’s 50 day simple moving average is $173.29 and its 200-day simple moving average is $183.93. Thomson Reuters Co. has a one year low of $149.88 and a one year high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.79 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. Sell-side analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Thomson Reuters’s payout ratio is currently 65.75%.

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.