Toronto Dominion Bank Grows Position in Thomson Reuters Co. (NYSE:TRI)

Toronto Dominion Bank lifted its position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 87.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 505,050 shares of the business services provider's stock after acquiring an additional 235,145 shares during the quarter. Toronto Dominion Bank owned 0.11% of Thomson Reuters worth $85,136,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TRI. Rothschild Investment LLC purchased a new position in shares of Thomson Reuters during the 2nd quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its position in Thomson Reuters by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider's stock worth $28,000 after acquiring an additional 80 shares in the last quarter. Gold Investment Management Ltd. acquired a new stake in Thomson Reuters in the fourth quarter valued at $41,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Thomson Reuters during the 2nd quarter worth $73,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Thomson Reuters during the 1st quarter worth $78,000. Institutional investors and hedge funds own 17.31% of the company's stock.

Thomson Reuters Price Performance

Thomson Reuters stock traded up $0.46 during midday trading on Wednesday, reaching $172.63. 209,580 shares of the company were exchanged, compared to its average volume of 370,938. The company has a market capitalization of $77.63 billion, a price-to-earnings ratio of 32.80, a P/E/G ratio of 5.78 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The firm's 50-day simple moving average is $165.76 and its 200-day simple moving average is $163.85. Thomson Reuters Co. has a 1 year low of $117.46 and a 1 year high of $176.03.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The firm 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. Thomson Reuters's revenue was up 5.6% compared to the same quarter last year. On average, analysts anticipate that Thomson Reuters Co. will post 3.71 EPS for the current year.

Thomson Reuters Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $0.146 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.34%. Thomson Reuters's dividend payout ratio (DPR) is presently 41.14%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TRI shares. JPMorgan Chase & Co. boosted their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. National Bank Financial raised Thomson Reuters from a "sector perform" rating to an "outperform" rating in a research note on Monday, September 9th. Scotiabank raised Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada decreased their target price on Thomson Reuters from $170.00 to $168.00 and set a "sector perform" rating on the stock in a research report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.