JPL Wealth Management LLC Boosts Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

JPL Wealth Management LLC grew its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 12.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,670 shares of the business services provider’s stock after purchasing an additional 2,599 shares during the quarter. Thomson Reuters makes up 1.9% of JPL Wealth Management LLC’s portfolio, making the stock its 12th biggest position. JPL Wealth Management LLC’s holdings in Thomson Reuters were worth $3,821,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TRI. International Assets Investment Management LLC purchased a new position in Thomson Reuters in the fourth quarter valued at about $11,438,000. Yousif Capital Management LLC lifted its position in Thomson Reuters by 7.1% during the fourth quarter. Yousif Capital Management LLC now owns 8,029 shares of the business services provider’s stock valued at $1,174,000 after acquiring an additional 535 shares during the last quarter. Truist Financial Corp lifted its position in Thomson Reuters by 1.5% during the fourth quarter. Truist Financial Corp now owns 21,666 shares of the business services provider’s stock valued at $3,168,000 after acquiring an additional 330 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in Thomson Reuters by 97.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 5,678 shares of the business services provider’s stock valued at $830,000 after acquiring an additional 2,804 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in Thomson Reuters by 3.2% in the fourth quarter. First Trust Direct Indexing L.P. now owns 4,200 shares of the business services provider’s stock worth $614,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on TRI shares. JPMorgan Chase & Co. increased their price objective on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Scotiabank upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada dropped their price target on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Thomson Reuters currently has an average rating of “Hold” and an average price target of $173.45.

Thomson Reuters Stock Performance

Shares of NYSE:TRI traded up $1.61 during trading on Friday, hitting $171.18. The stock had a trading volume of 244,961 shares, compared to its average volume of 373,351. The stock has a 50-day simple moving average of $164.77 and a two-hundred day simple moving average of $162.35. The stock has a market capitalization of $76.98 billion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 6.10 and a beta of 0.72. Thomson Reuters Co. has a 12-month low of $117.46 and a 12-month high of $176.03. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. On average, equities research analysts expect that Thomson Reuters Co. will post 3.72 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a $0.146 dividend. This represents a $0.58 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Thursday, August 15th. Thomson Reuters’s payout ratio is 41.14%.

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.