Seven Eight Capital LP Invests $1.78 Million in Thomson Reuters Co. (NYSE:TRI)

Seven Eight Capital LP bought a new stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,565 shares of the business services provider’s stock, valued at approximately $1,781,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new stake in Thomson Reuters in the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. Gold Investment Management Ltd. acquired a new stake in Thomson Reuters in the 4th quarter valued at $41,000. Principal Securities Inc. bought a new stake in Thomson Reuters during the 4th quarter valued at $48,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Thomson Reuters during the second quarter worth $73,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TRI. Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $164.00 to $182.00 in a report on Tuesday, August 27th. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. JPMorgan Chase & Co. raised their target price on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their price target on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $173.45.

Thomson Reuters Trading Up 0.1 %

Shares of Thomson Reuters stock opened at $168.25 on Thursday. The firm has a market cap of $75.66 billion, a PE ratio of 32.05, a P/E/G ratio of 5.82 and a beta of 0.73. Thomson Reuters Co. has a 1 year low of $117.46 and a 1 year high of $176.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a fifty day moving average price of $165.27 and a 200-day moving average price of $163.42.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 earnings per share. Equities research analysts anticipate that Thomson Reuters Co. will post 3.71 EPS for the current year.

Thomson Reuters Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a $0.146 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.35%. Thomson Reuters’s payout ratio is 41.14%.

Thomson Reuters Company 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.