Thomson Reuters Co. (NYSE:TRI) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC boosted its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 30.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,822 shares of the business services provider’s stock after buying an additional 889 shares during the quarter. Ballentine Partners LLC’s holdings in Thomson Reuters were worth $652,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Blair William & Co. IL lifted its holdings in Thomson Reuters by 3.0% during the 2nd quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock worth $385,000 after buying an additional 66 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Thomson Reuters by 1.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock worth $1,252,000 after buying an additional 74 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Thomson Reuters by 4.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock worth $277,000 after buying an additional 75 shares in the last quarter. Avitas Wealth Management LLC lifted its holdings in Thomson Reuters by 0.4% during the 2nd quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock worth $3,508,000 after buying an additional 79 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised 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 valued at $28,000 after purchasing an additional 80 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Stock Down 1.0 %

Shares of NYSE:TRI opened at $164.78 on Friday. The company has a market cap of $74.09 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 5.61 and a beta of 0.73. The firm’s 50-day simple moving average is $168.78 and its 200-day simple moving average is $165.75. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16. Thomson Reuters Co. has a fifty-two week low of $117.46 and a fifty-two week high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $1.74 billion for 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 business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. As a group, equities research analysts predict that Thomson Reuters Co. will post 3.71 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The business 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. This represents a $0.58 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Thursday, August 15th. Thomson Reuters’s dividend payout ratio (DPR) is 41.14%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. JPMorgan Chase & Co. raised their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada lifted their price target on shares of Thomson Reuters from $168.00 to $171.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Thomson Reuters currently has a consensus rating of “Hold” and an average target price of $173.73.

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.