Bridgewater Associates LP increased its stake in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 251.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 106,401 shares of the business services provider’s stock after buying an additional 76,163 shares during the quarter. Bridgewater Associates LP’s holdings in Thomson Reuters were worth $4,291,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of TRI. HL Financial Services LLC acquired a new stake in Thomson Reuters during the first quarter worth approximately $589,000. Commerzbank Aktiengesellschaft FI grew its position in Thomson Reuters by 12.7% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 23,995 shares of the business services provider’s stock worth $927,000 after buying an additional 2,701 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Thomson Reuters by 15.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 100,255 shares of the business services provider’s stock worth $3,863,000 after buying an additional 13,685 shares in the last quarter. Trexquant Investment LP grew its position in Thomson Reuters by 41.2% during the first quarter. Trexquant Investment LP now owns 17,168 shares of the business services provider’s stock worth $664,000 after buying an additional 5,009 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Thomson Reuters by 8.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,818,887 shares of the business services provider’s stock worth $108,949,000 after buying an additional 212,594 shares in the last quarter. 22.61% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on TRI shares. Barclays reduced their target price on Thomson Reuters from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, May 14th. Canaccord Genuity raised Thomson Reuters from a “hold” rating to a “buy” rating in a report on Monday, May 14th. Piper Jaffray Companies raised their target price on Thomson Reuters to $45.00 and gave the company a “neutral” rating in a report on Thursday, June 14th. Royal Bank of Canada raised their target price on Thomson Reuters from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, August 29th. Finally, Scotiabank reduced their target price on Thomson Reuters from $49.00 to $43.00 and set an “outperform” rating on the stock in a report on Monday, May 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $45.58.
Shares of TRI stock opened at $44.48 on Thursday. The firm has a market capitalization of $31.28 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 12.61 and a beta of 0.67. Thomson Reuters Corp has a fifty-two week low of $36.52 and a fifty-two week high of $48.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.31 and a current ratio of 2.31.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Wednesday, August 8th. The business services provider reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.06. Thomson Reuters had a return on equity of 9.17% and a net margin of 14.15%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the company earned $0.60 EPS. Thomson Reuters’s revenue was up 2.4% compared to the same quarter last year. analysts forecast that Thomson Reuters Corp will post 0.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Thursday, August 16th will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Wednesday, August 15th. Thomson Reuters’s payout ratio is 54.98%.
Thomson Reuters Company Profile
Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.
Featured Article: What is the NASDAQ Stock Market?
Want to see what other hedge funds are holding TRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thomson Reuters Corp (NYSE:TRI) (TSE:TRI).
Receive News & Ratings for Thomson Reuters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thomson Reuters and related companies with MarketBeat.com's FREE daily email newsletter.