D.A. Davidson & CO. Acquires Shares of 6,651 Thomson Reuters Corp (TRI)

D.A. Davidson & CO. acquired a new position in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) in the third quarter, Holdings Channel reports. The firm acquired 6,651 shares of the business services provider’s stock, valued at approximately $304,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its position in Thomson Reuters by 0.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,803,317 shares of the business services provider’s stock worth $402,135,000 after purchasing an additional 60,838 shares during the period. Mawer Investment Management Ltd. boosted its position in Thomson Reuters by 20.8% during the second quarter. Mawer Investment Management Ltd. now owns 3,517,788 shares of the business services provider’s stock worth $142,070,000 after purchasing an additional 604,871 shares during the period. Parnassus Investments CA boosted its position in Thomson Reuters by 39.5% during the second quarter. Parnassus Investments CA now owns 2,937,541 shares of the business services provider’s stock worth $118,442,000 after purchasing an additional 832,502 shares during the period. FMR LLC boosted its position in Thomson Reuters by 596.2% during the third quarter. FMR LLC now owns 1,958,650 shares of the business services provider’s stock worth $89,376,000 after purchasing an additional 1,677,302 shares during the period. Finally, Toronto Dominion Bank boosted its position in Thomson Reuters by 80.1% during the second quarter. Toronto Dominion Bank now owns 1,845,888 shares of the business services provider’s stock worth $74,758,000 after purchasing an additional 821,146 shares during the period. 33.08% of the stock is owned by hedge funds and other institutional investors.

TRI opened at $50.99 on Friday. Thomson Reuters Corp has a fifty-two week low of $36.52 and a fifty-two week high of $51.74. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 2.45. The firm has a market cap of $25.75 billion, a PE ratio of 18.47, a PEG ratio of 8.25 and a beta of 0.55.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, November 6th. The business services provider reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.07. Thomson Reuters had a return on equity of 6.10% and a net margin of 16.21%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts predict that Thomson Reuters Corp will post 0.69 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Thursday, November 15th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.75%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.35. Thomson Reuters’s dividend payout ratio (DPR) is currently 55.80%.

A number of research firms have commented on TRI. CIBC reaffirmed a “hold” rating and set a $53.00 price objective on shares of Thomson Reuters in a research report on Wednesday. National Bank Financial reaffirmed a “buy” rating on shares of Thomson Reuters in a research report on Wednesday. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a research report on Wednesday. Zacks Investment Research raised shares of Thomson Reuters from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Wednesday, October 17th. Finally, Royal Bank of Canada lifted their price objective on shares of Thomson Reuters from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $51.00.

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Thomson Reuters Company Profile

Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.

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Institutional Ownership by Quarter for Thomson Reuters (NYSE:TRI)

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