Rathbones Group PLC Purchases 77,122 Shares of Thomson Reuters Co. (NYSE:TRI)

Rathbones Group PLC raised its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 313.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 101,710 shares of the business services provider’s stock after acquiring an additional 77,122 shares during the quarter. Rathbones Group PLC’s holdings in Thomson Reuters were worth $17,141,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TRI. Rothschild Investment LLC purchased a new position in shares of Thomson Reuters during the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Thomson Reuters by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. Gold Investment Management Ltd. purchased a new position in shares of Thomson Reuters during the fourth quarter valued at approximately $41,000. Principal Securities Inc. purchased a new position in shares of Thomson Reuters during the fourth quarter valued at approximately $48,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Thomson Reuters in the 2nd quarter worth approximately $73,000. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Price Performance

Shares of TRI opened at $172.70 on Monday. Thomson Reuters Co. has a 1-year low of $117.46 and a 1-year high of $176.03. The firm has a fifty day simple moving average of $165.14 and a two-hundred day simple moving average of $163.22. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. The firm has a market cap of $77.66 billion, a PE ratio of 32.90, a P/E/G ratio of 6.19 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, beating analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Thomson Reuters Co. will post 3.72 EPS for the current year.

Thomson Reuters Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.146 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s payout ratio is 41.14%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TRI. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada decreased their price objective on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Finally, Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $164.00 to $182.00 in a report on Tuesday, August 27th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Thomson Reuters has a consensus rating of “Hold” and an average target price of $173.45.

About Thomson Reuters

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.