International Assets Investment Management LLC Makes New Investment in Thomson Reuters Co. (NYSE:TRI)

International Assets Investment Management LLC purchased a new stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 171,453 shares of the business services provider's stock, valued at approximately $29,250,000.

Several other institutional investors and hedge funds have also bought and sold shares of TRI. TD Asset Management Inc boosted its stake in shares of Thomson Reuters by 7.9% during the 1st quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider's stock valued at $630,534,000 after purchasing an additional 295,301 shares in the last quarter. Cibc World Market Inc. boosted its position in Thomson Reuters by 26.3% during the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider's stock valued at $223,525,000 after acquiring an additional 276,206 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Thomson Reuters during the 2nd quarter worth approximately $45,514,000. Toronto Dominion Bank raised its position in shares of Thomson Reuters by 87.1% in the 2nd quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider's stock worth $85,136,000 after acquiring an additional 235,145 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Thomson Reuters by 179.5% in the 2nd quarter. Millennium Management LLC now owns 243,524 shares of the business services provider's stock valued at $41,033,000 after purchasing an additional 156,410 shares during the period. Hedge funds and other institutional investors own 17.31% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TRI shares. JPMorgan Chase & Co. upped their price target on Thomson Reuters from $163.00 to $164.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Royal Bank of Canada upped their target price on shares of Thomson Reuters from $168.00 to $171.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 23rd. National Bank Financial raised shares of Thomson Reuters from a "sector perform" rating to an "outperform" rating in a research report on Monday, September 9th. Finally, Scotiabank raised shares of Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from $164.00 to $182.00 in a research note on Tuesday, August 27th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $173.73.

Thomson Reuters Stock Up 0.1 %

Shares of NYSE TRI traded up $0.19 during midday trading on Tuesday, hitting $166.59. The stock had a trading volume of 289,527 shares, compared to its average volume of 354,475. The business's 50 day moving average is $168.89 and its 200-day moving average is $166.10. Thomson Reuters Co. has a 52 week low of $118.54 and a 52 week high of $176.03. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16. The company has a market cap of $74.90 billion, a P/E ratio of 31.73, a PEG ratio of 5.54 and a beta of 0.73.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The firm's quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. As a group, analysts predict that Thomson Reuters Co. will post 3.71 EPS for the current year.

Thomson Reuters Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.146 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.58 annualized dividend and a dividend yield of 0.35%. Thomson Reuters's payout ratio is 41.14%.

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.