Thomson Reuters Co. (NYSE:TRI) Shares Purchased by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. increased its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 17.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,167 shares of the business services provider’s stock after buying an additional 30,026 shares during the quarter. Thomson Reuters accounts for about 3.2% of Triasima Portfolio Management inc.’s portfolio, making the stock its 8th largest position. Triasima Portfolio Management inc.’s holdings in Thomson Reuters were worth $34,905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings in shares of Thomson Reuters by 1.8% during the first quarter. Assenagon Asset Management S.A. now owns 3,990 shares of the business services provider’s stock valued at $622,000 after acquiring an additional 70 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Thomson Reuters by 1.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock worth $1,252,000 after buying an additional 74 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Thomson Reuters by 4.8% during the second quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock worth $277,000 after buying an additional 75 shares during the period. Avitas Wealth Management LLC lifted its stake in shares of Thomson Reuters by 0.4% during the second quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock worth $3,508,000 after buying an additional 79 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position 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 valued at $28,000 after acquiring an additional 80 shares during the period. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Stock Performance

Thomson Reuters stock traded down $1.76 during mid-day trading on Friday, hitting $166.24. The company had a trading volume of 183,012 shares, compared to its average volume of 319,291. The company has a market capitalization of $74.74 billion, a price-to-earnings ratio of 31.66, a P/E/G ratio of 6.04 and a beta of 0.73. Thomson Reuters Co. has a 12-month low of $117.46 and a 12-month high of $176.03. The company’s fifty day moving average is $164.81 and its 200-day moving average is $162.69. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business earned $0.84 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. Equities research analysts predict that Thomson Reuters Co. will post 3.72 EPS for the current year.

Thomson Reuters Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a $0.146 dividend. This represents a $0.58 annualized dividend and a yield of 0.35%. The ex-dividend date is Thursday, August 15th. Thomson Reuters’s payout ratio is currently 41.14%.

Analyst Ratings Changes

A number of brokerages have commented on TRI. JPMorgan Chase & Co. lifted their price target on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada decreased their target price on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Finally, Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $164.00 to $182.00 in a report on Tuesday, August 27th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $173.45.

Thomson Reuters Company 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.