Prana Capital Management LP Takes Position in Thomson Reuters Co. (NYSE:TRI)

Prana Capital Management LP acquired a new position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 112,210 shares of the business services provider’s stock, valued at approximately $19,143,000. Thomson Reuters makes up approximately 0.9% of Prana Capital Management LP’s holdings, making the stock its 29th biggest position.

A number of other hedge funds have also bought and sold shares of TRI. Atria Investments Inc purchased a new position in shares of Thomson Reuters during the first quarter valued at approximately $1,006,000. Cetera Advisors LLC raised its stake in Thomson Reuters by 12.0% during the 1st quarter. Cetera Advisors LLC now owns 3,172 shares of the business services provider’s stock valued at $494,000 after buying an additional 341 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after buying an additional 80 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. grew its holdings in shares of Thomson Reuters by 1.7% in the second quarter. Dixon Mitchell Investment Counsel Inc. now owns 220,544 shares of the business services provider’s stock worth $37,231,000 after acquiring an additional 3,707 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in Thomson Reuters during the second quarter valued at $266,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank of Canada raised their target price on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Scotiabank boosted their price objective on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a report on Monday. Finally, Wells Fargo & Company started coverage on Thomson Reuters in a report on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price target for the company. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $175.20.

Thomson Reuters Trading Up 0.2 %

TRI stock opened at $164.84 on Wednesday. The company has a market capitalization of $74.16 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 5.56 and a beta of 0.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. Thomson Reuters Co. has a 1-year low of $138.83 and a 1-year high of $176.03. The business has a 50 day simple moving average of $166.26 and a two-hundred day simple moving average of $166.93.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the company posted $0.82 earnings per share. Thomson Reuters’s quarterly revenue was up 8.2% on a year-over-year basis. Research analysts anticipate that Thomson Reuters Co. will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, November 21st. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s payout ratio is currently 42.52%.

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.