Cerity Partners LLC Acquires 14,223 Shares of Thomson Reuters Co. (NYSE:TRI)

Cerity Partners LLC raised its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 106.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,554 shares of the business services provider’s stock after buying an additional 14,223 shares during the quarter. Cerity Partners LLC’s holdings in Thomson Reuters were worth $4,701,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TRI. Rothschild Investment LLC acquired a new stake in shares of Thomson Reuters during the second quarter worth $25,000. EverSource Wealth Advisors LLC raised 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 valued at $28,000 after purchasing an additional 80 shares during the period. Asset Dedication LLC lifted its holdings in shares of Thomson Reuters by 125.0% in the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 130 shares in the last quarter. Clean Yield Group acquired a new position in shares of Thomson Reuters during the third quarter worth about $42,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Thomson Reuters during the third quarter worth about $47,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Price Performance

NYSE:TRI opened at $161.70 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. Thomson Reuters Co. has a 12-month low of $138.57 and a 12-month high of $176.03. The stock’s 50 day moving average price is $166.69 and its two-hundred day moving average price is $167.08. The firm has a market capitalization of $72.75 billion, a price-to-earnings ratio of 31.83, a P/E/G ratio of 5.44 and a beta of 0.73.

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

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a dividend of $0.54 per share. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.16 annualized dividend and a dividend yield of 1.34%. Thomson Reuters’s payout ratio is presently 42.52%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRI. Wells Fargo & Company started coverage on Thomson Reuters in a research report on Tuesday. They set an “equal weight” rating and a $165.00 price target for the company. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Friday, November 22nd. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Royal Bank of Canada lifted their target price on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their price target on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $175.20.

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.