Ritholtz Wealth Management Acquires 352 Shares of Thomson Reuters Co. (NYSE:TRI)

Ritholtz Wealth Management lifted its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 7.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,314 shares of the business services provider’s stock after buying an additional 352 shares during the quarter. Ritholtz Wealth Management’s holdings in Thomson Reuters were worth $907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. TD Asset Management Inc lifted its position in shares of Thomson Reuters by 7.9% during the first quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider’s stock worth $630,534,000 after purchasing an additional 295,301 shares in the last quarter. Cibc World Market Inc. boosted its position in Thomson Reuters by 26.3% in the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock valued at $223,525,000 after buying an additional 276,206 shares during the last quarter. MUFG Securities EMEA plc bought a new position in Thomson Reuters in the 2nd quarter valued at $45,514,000. Toronto Dominion Bank increased its stake in shares of Thomson Reuters by 87.1% in the 2nd quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock valued at $85,136,000 after buying an additional 235,145 shares during the period. Finally, Millennium Management LLC raised its position in shares of Thomson Reuters by 179.5% during the second quarter. Millennium Management LLC now owns 243,524 shares of the business services provider’s stock worth $41,033,000 after acquiring an additional 156,410 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

NYSE:TRI opened at $167.26 on Tuesday. 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 business’s 50-day simple moving average is $167.73 and its 200-day simple moving average is $165.03. Thomson Reuters Co. has a fifty-two week low of $117.46 and a fifty-two week high of $176.03. The stock has a market capitalization of $75.22 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 5.61 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued 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 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 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. Sell-side analysts expect that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $0.146 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.35%. Thomson Reuters’s dividend payout ratio (DPR) is 41.46%.

Analyst Ratings Changes

TRI has been the subject of several recent research reports. Royal Bank of Canada dropped their price objective 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. 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 research note on Friday, August 2nd. Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $164.00 to $182.00 in a research report on Tuesday, August 27th. Finally, National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $173.45.

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.