75,336 Shares in Thomson Reuters Co. $TRI Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC bought a new stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 75,336 shares of the business services provider’s stock, valued at approximately $11,702,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TRI. TLT Family Holdco ULC acquired a new stake in shares of Thomson Reuters during the second quarter worth about $865,442,000. LCC Family Corp. acquired a new position in shares of Thomson Reuters in the second quarter valued at approximately $813,253,000. SEG Family Corp. purchased a new stake in Thomson Reuters during the 2nd quarter worth approximately $659,930,000. Norges Bank acquired a new stake in Thomson Reuters during the 2nd quarter worth approximately $275,036,000. Finally, HRT Financial LP lifted its holdings in Thomson Reuters by 115.4% during the 2nd quarter. HRT Financial LP now owns 1,388,588 shares of the business services provider’s stock worth $279,286,000 after buying an additional 743,923 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Stock Down 3.5%

Shares of NYSE TRI opened at $96.41 on Monday. The business has a 50-day moving average of $111.93 and a two-hundred day moving average of $138.86. The company has a market capitalization of $42.90 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 5.67 and a beta of 0.79. Thomson Reuters Co. has a 1 year low of $79.71 and a 1 year high of $218.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, February 5th. The business services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $1.01 EPS. On average, analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.655 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.60. This represents a $2.62 dividend on an annualized basis and a yield of 2.7%. Thomson Reuters’s dividend payout ratio is 78.68%.

Analyst Ratings Changes

Several research firms have commented on TRI. JPMorgan Chase & Co. dropped their price target on shares of Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, February 6th. Morgan Stanley set a $116.00 price target on Thomson Reuters in a report on Friday, February 6th. Royal Bank Of Canada raised Thomson Reuters from a “sector perform” rating to an “outperform” rating and set a $126.00 price target on the stock in a research report on Tuesday, February 10th. The Goldman Sachs Group set a $111.00 price objective on Thomson Reuters and gave the stock a “buy” rating in a research report on Saturday, February 7th. Finally, Canadian Imperial Bank of Commerce set a $183.00 target price on shares of Thomson Reuters and gave the stock an “outperformer” rating in a research note on Friday, January 16th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.42.

Thomson Reuters Profile

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.