LPL Financial LLC lessened its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 14.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 13,428 shares of the business services provider’s stock after selling 2,309 shares during the period. LPL Financial LLC’s holdings in Thomson Reuters were worth $1,071,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of TRI. Northwest Investment Counselors LLC bought a new position in shares of Thomson Reuters in the third quarter valued at approximately $42,000. OLD Second National Bank of Aurora lifted its holdings in shares of Thomson Reuters by 44.4% in the third quarter. OLD Second National Bank of Aurora now owns 589 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 181 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Thomson Reuters by 267.4% in the second quarter. Glenmede Trust Co. NA now owns 1,139 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 829 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Thomson Reuters in the second quarter valued at approximately $83,000. Finally, Private Advisor Group LLC bought a new position in shares of Thomson Reuters in the second quarter valued at approximately $107,000. Institutional investors own 20.02% of the company’s stock.
A number of research firms have recently weighed in on TRI. Royal Bank of Canada raised their target price on Thomson Reuters from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Scotiabank lifted their price target on Thomson Reuters from $75.00 to $84.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 4th. TD Securities lifted their price target on Thomson Reuters from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. BMO Capital Markets lifted their price target on Thomson Reuters from $106.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, November 4th. Finally, Canaccord Genuity lifted their price target on Thomson Reuters from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Thomson Reuters currently has a consensus rating of “Buy” and an average price target of $88.45.
Shares of TRI opened at $81.49 on Friday. The firm has a market cap of $40.50 billion, a PE ratio of 25.55, a PEG ratio of 3.74 and a beta of 0.50. The stock’s fifty day moving average price is $81.56 and its two-hundred day moving average price is $74.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.41. Thomson Reuters Co. has a 1 year low of $52.23 and a 1 year high of $89.55.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Sunday, November 8th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Thomson Reuters had a return on equity of 8.49% and a net margin of 27.01%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. Sell-side analysts anticipate that Thomson Reuters Co. will post 1.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Thursday, November 19th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $1.52 annualized dividend and a dividend yield of 1.87%. Thomson Reuters’s payout ratio is presently 117.83%.
Thomson Reuters Company Profile
Thomson Reuters Corporation provides news and business information services to professionals in the United States, Other Americas, Europe, the Middle East, Africa, and the Asia- Pacific. It operates through five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print.
Further Reading: Price to Earnings Ratio (PE) Basics
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