Griffin Asset Management Inc. Has $920,000 Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Griffin Asset Management Inc. grew its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,902 shares of the business services provider’s stock after purchasing an additional 150 shares during the quarter. Griffin Asset Management Inc.’s holdings in Thomson Reuters were worth $920,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Thomson Reuters by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,698,178 shares of the business services provider’s stock worth $833,188,000 after acquiring an additional 52,138 shares during the period. FIL Ltd boosted its stake in Thomson Reuters by 9.8% in the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after purchasing an additional 445,444 shares during the period. The Manufacturers Life Insurance Company increased its position in Thomson Reuters by 6.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock worth $500,872,000 after buying an additional 240,148 shares during the period. TD Asset Management Inc lifted its holdings in shares of Thomson Reuters by 30.8% during the fourth quarter. TD Asset Management Inc now owns 3,752,472 shares of the business services provider’s stock worth $551,317,000 after buying an additional 884,572 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Thomson Reuters by 0.8% in the fourth quarter. 1832 Asset Management L.P. now owns 1,783,086 shares of the business services provider’s stock valued at $260,723,000 after acquiring an additional 13,747 shares during the period. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Down 1.1 %

Shares of NYSE TRI opened at $168.57 on Friday. The stock has a 50-day moving average price of $166.65 and a two-hundred day moving average price of $156.86. Thomson Reuters Co. has a 12 month low of $117.46 and a 12 month high of $176.03. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The company has a market cap of $75.79 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 6.44 and a beta of 0.71.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company earned $0.85 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, analysts forecast that Thomson Reuters Co. will post 3.67 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a dividend of $0.54 per share. The ex-dividend date was Wednesday, May 15th. This represents a $2.16 dividend on an annualized basis and a yield of 1.28%. Thomson Reuters’s dividend payout ratio is currently 40.57%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TRI. CIBC lifted their price objective on shares of Thomson Reuters from $152.00 to $156.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. National Bank Financial upgraded Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada raised their price objective on Thomson Reuters from $153.00 to $156.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. upped their target price on Thomson Reuters from $152.00 to $163.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, UBS Group raised their price target on Thomson Reuters from $177.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $170.64.

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.