Tritonpoint Wealth LLC Acquires New Shares in Thomson Reuters Co. (NYSE:TRI)

Tritonpoint Wealth LLC acquired a new stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 4,605 shares of the business services provider’s stock, valued at approximately $673,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Belpointe Asset Management LLC lifted its position in Thomson Reuters by 134.9% during the 1st quarter. Belpointe Asset Management LLC now owns 195 shares of the business services provider’s stock worth $25,000 after acquiring an additional 112 shares during the last quarter. Trust Co. of Vermont acquired a new position in Thomson Reuters during the 3rd quarter worth $27,000. FinTrust Capital Advisors LLC acquired a new position in Thomson Reuters during the 3rd quarter worth $28,000. Pacifica Partners Inc. lifted its position in Thomson Reuters by 162.0% during the 4th quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock worth $34,000 after acquiring an additional 149 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC acquired a new position in Thomson Reuters during the 4th quarter worth $38,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Wall Street Analyst Weigh In

TRI has been the subject of a number of research analyst reports. National Bank Financial lowered shares of Thomson Reuters from a “sector perform under weight” rating to an “underperform underweight” rating in a research report on Tuesday, February 20th. Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $150.00 to $180.00 in a research report on Thursday, March 14th. TD Securities upped their price objective on shares of Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. CIBC upped their price objective on shares of Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Finally, Scotiabank upped their target price on shares of Thomson Reuters from $142.00 to $159.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $157.42.

Thomson Reuters Price Performance

Thomson Reuters stock traded down $0.21 during trading hours on Friday, hitting $151.94. 227,919 shares of the stock were exchanged, compared to its average volume of 308,872. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $68.59 billion, a P/E ratio of 26.02, a P/E/G ratio of 3.96 and a beta of 0.65. Thomson Reuters Co. has a 12 month low of $117.46 and a 12 month high of $161.57. The business’s 50-day moving average is $155.60 and its two-hundred day moving average is $142.48.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. Equities research analysts expect that Thomson Reuters Co. will post 3.58 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.42%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Tuesday, February 20th. Thomson Reuters’s dividend payout ratio is presently 36.99%.

About Thomson Reuters

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.