Proficio Capital Partners LLC Takes Position in Thomson Reuters Co. (NYSE:TRI)

Proficio Capital Partners LLC acquired a new position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 61,265 shares of the business services provider's stock, valued at approximately $9,826,000.

A number of other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Thomson Reuters during the fourth quarter worth approximately $27,000. Meridian Wealth Management LLC purchased a new stake in shares of Thomson Reuters during the third quarter worth $4,506,000. Atomi Financial Group Inc. lifted its stake in shares of Thomson Reuters by 16.1% in the fourth quarter. Atomi Financial Group Inc. now owns 1,819 shares of the business services provider's stock worth $292,000 after buying an additional 252 shares in the last quarter. CIBC Asset Management Inc boosted its position in Thomson Reuters by 52.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider's stock worth $185,011,000 after acquiring an additional 395,481 shares during the last quarter. Finally, Icon Wealth Advisors LLC grew its stake in Thomson Reuters by 547.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 7,943 shares of the business services provider's stock valued at $1,355,000 after acquiring an additional 6,716 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TRI. Scotiabank raised their target price on shares of Thomson Reuters from $187.00 to $188.00 and gave the stock a "sector outperform" rating in a research note on Friday, February 7th. JPMorgan Chase & Co. boosted their price objective on Thomson Reuters from $175.00 to $177.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. CIBC boosted their price target on shares of Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. Wells Fargo & Company increased their price objective on shares of Thomson Reuters from $165.00 to $177.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group boosted their target price on Thomson Reuters from $168.00 to $188.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $177.56.

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Thomson Reuters Stock Down 0.7 %

Shares of TRI traded down $1.27 during midday trading on Wednesday, hitting $171.07. The company had a trading volume of 471,130 shares, compared to its average volume of 358,417. Thomson Reuters Co. has a 1 year low of $149.50 and a 1 year high of $180.42. The firm has a market capitalization of $77.00 billion, a P/E ratio of 34.98, a P/E/G ratio of 5.67 and a beta of 0.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The company's 50-day simple moving average is $170.05 and its 200-day simple moving average is $167.80.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. As a group, sell-side analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were paid a $0.595 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This is a boost from Thomson Reuters's previous quarterly dividend of $0.54. This represents a $2.38 dividend on an annualized basis and a yield of 1.39%. Thomson Reuters's dividend payout ratio (DPR) is currently 48.67%.

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.