First Business Financial Services Inc. purchased a new stake in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,500 shares of the business services provider’s stock, valued at approximately $355,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. MML Investors Services LLC grew its position in Thomson Reuters by 24.1% in the 4th quarter. MML Investors Services LLC now owns 7,790 shares of the business services provider’s stock valued at $376,000 after acquiring an additional 1,511 shares in the last quarter. APG Asset Management N.V. acquired a new position in Thomson Reuters in the 4th quarter valued at about $617,000. Norges Bank acquired a new position in Thomson Reuters in the 4th quarter valued at about $99,235,000. First Hawaiian Bank acquired a new position in Thomson Reuters in the 1st quarter valued at about $308,000. Finally, Moody National Bank Trust Division acquired a new position in Thomson Reuters in the 1st quarter valued at about $689,000. Hedge funds and other institutional investors own 20.39% of the company’s stock.
Several research firms have weighed in on TRI. Morgan Stanley lifted their target price on Thomson Reuters from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Macquarie downgraded Thomson Reuters from an “outperform” rating to a “neutral” rating and set a $65.47 target price for the company. in a research report on Tuesday, June 25th. Credit Suisse Group raised Thomson Reuters from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $70.00 to $80.00 in a research report on Monday, July 29th. National Bank Financial downgraded Thomson Reuters from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 29th. Finally, Bank of America lifted their target price on Thomson Reuters from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Thomson Reuters currently has an average rating of “Hold” and an average price target of $68.59.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.08. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Thomson Reuters had a return on equity of 4.25% and a net margin of 78.52%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. Research analysts forecast that Thomson Reuters Corp will post 1.15 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.65%. The ex-dividend date is Wednesday, August 21st. Thomson Reuters’s payout ratio is 192.00%.
Thomson Reuters Profile
Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.
Recommended Story: Why investors pay attention to retained earnings
Want to see what other hedge funds are holding TRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thomson Reuters Corp (NYSE:TRI) (TSE:TRI).
Receive News & Ratings for Thomson Reuters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thomson Reuters and related companies with MarketBeat.com's FREE daily email newsletter.