Griffin Asset Management Inc. increased its holdings in Thomson Reuters Co. (NYSE:TRI – Get Rating) (TSE:TRI) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,425 shares of the business services provider’s stock after purchasing an additional 430 shares during the quarter. Griffin Asset Management Inc.’s holdings in Thomson Reuters were worth $591,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Thomson Reuters by 33.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,838,820 shares of the business services provider’s stock worth $339,742,000 after purchasing an additional 706,875 shares during the last quarter. Norges Bank bought a new stake in shares of Thomson Reuters in the fourth quarter worth $191,514,000. Massachusetts Financial Services Co. MA grew its stake in shares of Thomson Reuters by 3.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 600,575 shares of the business services provider’s stock worth $71,840,000 after purchasing an additional 20,528 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Thomson Reuters by 3.0% in the fourth quarter. First Trust Advisors LP now owns 532,903 shares of the business services provider’s stock worth $63,746,000 after purchasing an additional 15,456 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Thomson Reuters by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 502,094 shares of the business services provider’s stock worth $60,051,000 after purchasing an additional 27,193 shares during the last quarter. 21.17% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on TRI. Bank of America began coverage on shares of Thomson Reuters in a research note on Friday, March 11th. They issued a “buy” rating on the stock. CIBC raised shares of Thomson Reuters from a “neutral” rating to a “sector outperform” rating in a research report on Tuesday, June 14th. Finally, StockNews.com raised shares of Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $134.29.
Thomson Reuters (NYSE:TRI – Get Rating) (TSE:TRI) last announced its quarterly earnings data on Tuesday, May 3rd. The business services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Thomson Reuters had a net margin of 25.77% and a return on equity of 6.83%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the business earned $0.58 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts forecast that Thomson Reuters Co. will post 2.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Thursday, May 26th were issued a dividend of $0.445 per share. The ex-dividend date was Wednesday, May 25th. This represents a $1.78 annualized dividend and a dividend yield of 1.77%. Thomson Reuters’s dividend payout ratio is currently 52.98%.
Thomson Reuters Company Profile (Get Rating)
Thomson Reuters Corporation provides 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.
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