Ritholtz Wealth Management Acquires 130 Shares of Thomson Reuters Co. (NYSE:TRI)

Ritholtz Wealth Management grew its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,962 shares of the business services provider’s stock after acquiring an additional 130 shares during the period. Ritholtz Wealth Management’s holdings in Thomson Reuters were worth $836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rothschild Investment LLC purchased a new position in shares of Thomson Reuters during the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its position 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 acquiring an additional 80 shares in the last quarter. Gold Investment Management Ltd. bought a new position in shares of Thomson Reuters in the fourth quarter worth about $41,000. Principal Securities Inc. purchased a new stake in shares of Thomson Reuters during the fourth quarter worth about $48,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Thomson Reuters during the first quarter worth about $78,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $168.16 on Wednesday. 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 market cap of $75.62 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 6.10 and a beta of 0.73. The firm has a 50-day moving average of $164.88 and a two-hundred day moving average of $162.53. Thomson Reuters Co. has a 1 year low of $117.46 and a 1 year high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. Thomson Reuters’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 earnings per share. On average, research analysts forecast that Thomson Reuters Co. will post 3.72 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a $0.146 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Thursday, August 15th. Thomson Reuters’s dividend payout ratio (DPR) is presently 41.14%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TRI shares. Royal Bank of Canada lowered their target price on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. increased 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. Finally, Scotiabank upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.