World Investment Advisors LLC Takes $6.65 Million Position in Thomson Reuters Co. (NYSE:TRI)

World Investment Advisors LLC bought a new stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 38,972 shares of the business services provider’s stock, valued at approximately $6,649,000.

Other hedge funds have also made changes to their positions in the company. SkyView Investment Advisors LLC raised its holdings in Thomson Reuters by 1.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,235 shares of the business services provider’s stock worth $722,000 after buying an additional 66 shares during the period. Toronto Dominion Bank grew its holdings in Thomson Reuters by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 514,250 shares of the business services provider’s stock valued at $87,731,000 after buying an additional 9,200 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Thomson Reuters by 9.2% during the third quarter. Geode Capital Management LLC now owns 754,630 shares of the business services provider’s stock valued at $130,341,000 after buying an additional 63,336 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Thomson Reuters in the third quarter worth $2,538,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in Thomson Reuters by 85.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 4,428 shares of the business services provider’s stock worth $755,000 after purchasing an additional 2,040 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Up 0.3 %

Shares of Thomson Reuters stock opened at $169.12 on Friday. The stock has a market capitalization of $76.09 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 5.70 and a beta of 0.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. The company has a 50-day simple moving average of $166.09 and a two-hundred day simple moving average of $166.83. Thomson Reuters Co. has a 52-week low of $138.83 and a 52-week high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its 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 net margin of 32.12% and a return on equity of 14.85%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the business earned $0.82 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, analysts anticipate that Thomson Reuters Co. will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Thursday, November 21st. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio is 42.52%.

Analyst Upgrades and Downgrades

TRI has been the subject of several research reports. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Wells Fargo & Company assumed coverage on Thomson Reuters in a research note on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price objective on the stock. Scotiabank upped their price target on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. StockNews.com cut Thomson Reuters from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Royal Bank of Canada raised their price target on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Thomson Reuters presently has an average rating of “Hold” and an average target price of $175.20.

About Thomson Reuters

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.