Intech Investment Management LLC Has $14.35 Million Holdings in Thomson Reuters Co. (NYSE:TRI)

Intech Investment Management LLC boosted its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 67.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,140 shares of the business services provider’s stock after purchasing an additional 34,369 shares during the quarter. Intech Investment Management LLC’s holdings in Thomson Reuters were worth $14,349,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in shares of Thomson Reuters in the 4th quarter valued at approximately $48,000. Dimensional Fund Advisors LP grew its holdings in shares of Thomson Reuters by 52.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 158,203 shares of the business services provider’s stock valued at $23,132,000 after buying an additional 54,140 shares during the period. Avantax Advisory Services Inc. bought a new stake in shares of Thomson Reuters in the 4th quarter valued at $244,000. Janney Montgomery Scott LLC raised its stake in Thomson Reuters by 7.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 6,029 shares of the business services provider’s stock worth $882,000 after buying an additional 418 shares during the period. Finally, TrinityPoint Wealth LLC acquired a new stake in Thomson Reuters during the 4th quarter worth $202,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Trading Up 1.3 %

Thomson Reuters stock opened at $170.32 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50-day moving average of $165.37 and a 200-day moving average of $163.47. The company has a market cap of $76.59 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 5.82 and a beta of 0.73. Thomson Reuters Co. has a one year low of $117.46 and a one year high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts expect that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $0.146 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Thursday, August 15th. Thomson Reuters’s dividend payout ratio (DPR) is presently 41.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada lowered their target price on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Finally, Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $173.45.

Thomson Reuters 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.