Thomson Reuters Co. (NYSE:TRI) Shares Acquired by Griffin Asset Management Inc.

Griffin Asset Management Inc. lifted its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,175 shares of the business services provider’s stock after buying an additional 245 shares during the period. Griffin Asset Management Inc.’s holdings in Thomson Reuters were worth $1,053,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blair William & Co. IL increased its holdings in shares of Thomson Reuters by 3.0% in the second quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock valued at $385,000 after buying an additional 66 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Thomson Reuters by 1.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock valued at $1,252,000 after buying an additional 74 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Thomson Reuters by 4.8% in the second quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock valued at $277,000 after buying an additional 75 shares in the last quarter. Avitas Wealth Management LLC increased its holdings in shares of Thomson Reuters by 0.4% in the second quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock valued at $3,508,000 after buying an additional 79 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Thomson Reuters by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after buying an additional 80 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Stock Up 1.1 %

Shares of TRI opened at $169.14 on Wednesday. Thomson Reuters Co. has a 52 week low of $117.46 and a 52 week high of $176.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $76.07 billion, a P/E ratio of 32.46, a P/E/G ratio of 5.61 and a beta of 0.73. The company has a 50-day simple moving average of $167.95 and a 200-day simple moving average of $165.13.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. On average, equities research analysts expect that Thomson Reuters Co. will post 3.71 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.146 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.35%. Thomson Reuters’s dividend payout ratio is 41.46%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TRI shares. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. 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. JPMorgan Chase & Co. upped their price target on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating 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 upped their price target for the company from $164.00 to $182.00 in a report on Tuesday, August 27th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $173.45.

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.