Larson Financial Group LLC Has $2.38 Million Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Larson Financial Group LLC increased its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,298 shares of the business services provider’s stock after acquiring an additional 146 shares during the quarter. Larson Financial Group LLC’s holdings in Thomson Reuters were worth $2,383,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TRI. Mackenzie Financial Corp raised its holdings in Thomson Reuters by 17.3% during the 3rd quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock worth $755,514,000 after purchasing an additional 919,603 shares during the last quarter. FMR LLC raised its holdings in Thomson Reuters by 26.3% during the 3rd quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after purchasing an additional 1,179,155 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Thomson Reuters by 6.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock worth $500,872,000 after purchasing an additional 240,148 shares during the last quarter. Bank of Nova Scotia bought a new position in Thomson Reuters during the 3rd quarter worth approximately $170,036,000. Finally, Toronto Dominion Bank raised its holdings in Thomson Reuters by 361.6% during the 3rd quarter. Toronto Dominion Bank now owns 1,142,194 shares of the business services provider’s stock worth $139,713,000 after purchasing an additional 894,776 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on TRI. TD Securities raised their price target on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. Royal Bank of Canada restated a “sector perform” rating and set a $153.00 price target on shares of Thomson Reuters in a report on Wednesday, March 13th. National Bank Financial lowered shares of Thomson Reuters from a “sector perform under weight” rating to an “underperform underweight” rating in a report on Tuesday, February 20th. Barclays upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $150.00 to $180.00 in a research note on Thursday, March 14th. Finally, CIBC lifted their price objective on shares of Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $157.42.

Thomson Reuters Stock Up 1.8 %

TRI stock traded up $2.73 during midday trading on Monday, reaching $152.95. 354,581 shares of the company’s stock traded hands, compared to its average volume of 306,302. The company has a market cap of $69.04 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 3.91 and a beta of 0.65. The firm’s fifty day moving average price is $155.84 and its 200-day moving average price is $144.84. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. Thomson Reuters Co. has a 52 week low of $117.46 and a 52 week high of $161.57.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.82 billion. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. Thomson Reuters’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 EPS. As a group, sell-side analysts forecast that Thomson Reuters Co. will post 3.58 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 21st were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Tuesday, February 20th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.49. Thomson Reuters’s payout ratio is 36.99%.

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.