Ariadne Wealth Management LP Purchases New Stake in Thomson Reuters Co. (NYSE:TRI)

Ariadne Wealth Management LP purchased a new stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 8,361 shares of the business services provider’s stock, valued at approximately $1,409,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Rothschild Investment LLC acquired a new position in shares of Thomson Reuters in the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC boosted 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 in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Thomson Reuters in the second quarter worth $73,000. Northwest Investment Counselors LLC acquired a new stake in shares of Thomson Reuters in the first quarter valued at approximately $78,000. Finally, Opal Wealth Advisors LLC acquired a new position in Thomson Reuters during the 1st quarter valued at about $85,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TRI. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. Royal Bank of Canada decreased their price target on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price 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. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $173.45.

Thomson Reuters Trading Up 0.5 %

Shares of NYSE TRI opened at $170.58 on Tuesday. Thomson Reuters Co. has a fifty-two week low of $117.46 and a fifty-two week high of $176.03. The business’s 50 day moving average price is $166.34 and its 200-day moving average price is $164.23. The company has a market cap of $76.71 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 5.71 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.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued 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. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. On average, sell-side analysts expect that Thomson Reuters Co. will post 3.71 earnings per share for the current year.

Thomson Reuters Cuts Dividend

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

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.