Thomson Reuters Co. $TRI Shares Acquired by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lifted its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,513 shares of the business services provider’s stock after acquiring an additional 133 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Thomson Reuters were worth $707,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. grew its position in Thomson Reuters by 772.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider’s stock worth $27,000 after purchasing an additional 139 shares during the period. Ameritas Advisory Services LLC purchased a new position in Thomson Reuters during the second quarter valued at approximately $37,000. SBI Securities Co. Ltd. raised its position in Thomson Reuters by 41.3% during the first quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 69 shares in the last quarter. Fifth Third Bancorp boosted its position in Thomson Reuters by 42.8% in the 1st quarter. Fifth Third Bancorp now owns 484 shares of the business services provider’s stock worth $84,000 after purchasing an additional 145 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in shares of Thomson Reuters by 1,008.9% during the 1st quarter. Whittier Trust Co. now owns 621 shares of the business services provider’s stock worth $107,000 after purchasing an additional 565 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. TD Securities upgraded shares of Thomson Reuters from a “hold” rating to a “buy” rating and boosted their target price for the company from $275.00 to $285.00 in a research note on Thursday, August 28th. Wells Fargo & Company raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $187.00 to $212.00 in a research note on Tuesday, September 9th. Canaccord Genuity Group lifted their price target on Thomson Reuters from $181.00 to $182.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $188.00 to $200.00 in a report on Wednesday, August 6th. Finally, National Bankshares restated an “outperform” rating on shares of Thomson Reuters in a research report on Thursday, July 10th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Thomson Reuters presently has an average rating of “Moderate Buy” and a consensus price target of $202.82.

Thomson Reuters Price Performance

Shares of NYSE TRI opened at $152.03 on Tuesday. The firm has a 50-day simple moving average of $173.29 and a 200-day simple moving average of $183.93. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $68.26 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. Thomson Reuters Co. has a 52 week low of $149.88 and a 52 week high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the company earned $0.85 EPS. Thomson Reuters’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $0.595 dividend. This represents a $2.38 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Thomson Reuters’s dividend payout ratio (DPR) is currently 65.75%.

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.