1832 Asset Management L.P. Buys 173,331 Shares of Thomson Reuters Co. $TRI

1832 Asset Management L.P. boosted its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 10.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,838,448 shares of the business services provider’s stock after buying an additional 173,331 shares during the period. 1832 Asset Management L.P. owned approximately 0.41% of Thomson Reuters worth $369,767,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in TRI. Arrowstreet Capital Limited Partnership raised its position in shares of Thomson Reuters by 6,317.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 161,197 shares of the business services provider’s stock valued at $32,422,000 after buying an additional 158,685 shares in the last quarter. Lido Advisors LLC boosted its stake in Thomson Reuters by 2.0% in the second quarter. Lido Advisors LLC now owns 22,943 shares of the business services provider’s stock valued at $4,615,000 after buying an additional 451 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. grew its position in Thomson Reuters by 1.4% in the second quarter. Dixon Mitchell Investment Counsel Inc. now owns 212,511 shares of the business services provider’s stock valued at $42,649,000 after acquiring an additional 2,930 shares during the last quarter. West Family Investments Inc. raised its stake in Thomson Reuters by 2.9% during the second quarter. West Family Investments Inc. now owns 4,260 shares of the business services provider’s stock worth $857,000 after acquiring an additional 119 shares in the last quarter. Finally, Williamson Legacy Group LLC bought a new position in shares of Thomson Reuters in the second quarter worth about $797,000. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Up 0.1%

Shares of NYSE TRI opened at $133.32 on Wednesday. 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 $59.31 billion, a PE ratio of 27.26, a P/E/G ratio of 5.67 and a beta of 0.74. Thomson Reuters Co. has a one year low of $131.11 and a one year high of $218.42. The business’s fifty day moving average price is $148.02 and its 200-day moving average price is $174.77.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, November 4th. The business services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company earned $0.80 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a $0.595 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $2.38 annualized dividend and a yield of 1.8%. Thomson Reuters’s dividend payout ratio (DPR) is currently 61.18%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank Of Canada dropped their price target on Thomson Reuters from $208.00 to $182.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 29th. The Goldman Sachs Group set a $186.00 price objective on shares of Thomson Reuters and gave the stock a “buy” rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. lowered their target price on Thomson Reuters from $178.00 to $160.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Huber Research raised shares of Thomson Reuters to an “overweight” rating in a research note on Monday, October 20th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Thomson Reuters in a research report on Wednesday, November 5th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.27.

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.