Wellington Management Group LLP Has $2.76 Million Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Wellington Management Group LLP raised its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 33.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,145 shares of the business services provider’s stock after buying an additional 4,039 shares during the period. Wellington Management Group LLP’s holdings in Thomson Reuters were worth $2,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quadrature Capital Ltd bought a new stake in shares of Thomson Reuters during the 3rd quarter worth about $8,246,000. Prana Capital Management LP acquired a new stake in Thomson Reuters during the third quarter worth approximately $19,143,000. Benjamin Edwards Inc. boosted its holdings in shares of Thomson Reuters by 64.5% during the third quarter. Benjamin Edwards Inc. now owns 4,878 shares of the business services provider’s stock worth $833,000 after acquiring an additional 1,913 shares during the period. Point72 Hong Kong Ltd grew its position in shares of Thomson Reuters by 771.3% in the third quarter. Point72 Hong Kong Ltd now owns 22,175 shares of the business services provider’s stock valued at $3,783,000 after purchasing an additional 19,630 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Thomson Reuters by 909.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,993 shares of the business services provider’s stock worth $35,815,000 after purchasing an additional 189,199 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $166.20 on Wednesday. The stock has a market cap of $74.78 billion, a PE ratio of 32.72, a P/E/G ratio of 5.69 and a beta of 0.71. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $166.13 and its two-hundred day moving average price is $166.66. Thomson Reuters Co. has a 12-month low of $138.85 and a 12-month high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. Thomson Reuters’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. As a group, analysts expect that Thomson Reuters Co. will post 3.69 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a $0.54 dividend. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.16 annualized dividend and a dividend yield of 1.30%. Thomson Reuters’s payout ratio is currently 42.52%.

Analysts Set New Price Targets

A number of brokerages have commented on TRI. Scotiabank upped their price objective on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Wells Fargo & Company initiated coverage on shares of Thomson Reuters in a research note on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price objective for the company. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada boosted their price target on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Thomson Reuters currently has a consensus rating of “Hold” and a consensus target price of $175.20.

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.