Atomi Financial Group Inc. Grows Position in Thomson Reuters Co. (NYSE:TRI)

Atomi Financial Group Inc. raised its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 7.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,552 shares of the business services provider’s stock after buying an additional 114 shares during the quarter. Atomi Financial Group Inc.’s holdings in Thomson Reuters were worth $262,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TRI. EverSource Wealth Advisors LLC grew its holdings in shares of Thomson Reuters by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 80 shares during the period. Gold Investment Management Ltd. purchased a new position in Thomson Reuters during the fourth quarter worth about $41,000. Principal Securities Inc. purchased a new position in Thomson Reuters during the fourth quarter worth about $48,000. Northwest Investment Counselors LLC purchased a new position in Thomson Reuters during the first quarter worth about $78,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Thomson Reuters during the first quarter worth about $84,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Shares of TRI opened at $170.41 on Thursday. 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 firm has a market cap of $76.64 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 5.91 and a beta of 0.72. The company’s 50 day simple moving average is $164.52 and its 200-day simple moving average is $162.06. Thomson Reuters Co. has a 12-month low of $117.46 and a 12-month high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the firm posted $0.84 EPS. Thomson Reuters’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts predict that Thomson Reuters Co. will post 3.72 EPS for the current year.

Thomson Reuters Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a $0.146 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Thursday, August 15th. Thomson Reuters’s dividend payout ratio (DPR) is currently 41.14%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TRI. Royal Bank of Canada reduced their price target on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $164.00 to $182.00 in a research report on Tuesday. CIBC increased their price target on shares of Thomson Reuters from $152.00 to $156.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Canaccord Genuity Group increased their price target on shares of Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $173.45.

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.