Prime Capital Investment Advisors LLC Has $1.68 Million Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Prime Capital Investment Advisors LLC cut its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 33.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,865 shares of the business services provider’s stock after selling 4,863 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Thomson Reuters were worth $1,683,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cibc World Market Inc. raised its holdings in shares of Thomson Reuters by 26.3% during the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock worth $223,525,000 after acquiring an additional 276,206 shares during the period. MUFG Securities EMEA plc acquired a new stake in shares of Thomson Reuters during the second quarter worth $45,514,000. Toronto Dominion Bank raised its holdings in shares of Thomson Reuters by 87.1% during the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock worth $85,136,000 after acquiring an additional 235,145 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Thomson Reuters during the third quarter worth $29,250,000. Finally, Millennium Management LLC grew its position in Thomson Reuters by 179.5% in the second quarter. Millennium Management LLC now owns 243,524 shares of the business services provider’s stock valued at $41,033,000 after purchasing an additional 156,410 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. StockNews.com raised shares of Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Thursday. Scotiabank raised their target price on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada raised their target price on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Thomson Reuters currently has an average rating of “Hold” and a consensus price target of $176.33.

Thomson Reuters Stock Performance

Shares of TRI opened at $168.39 on Thursday. The firm has a 50-day moving average of $168.62 and a 200-day moving average of $167.14. Thomson Reuters Co. has a one year low of $132.87 and a one year high of $176.03. The company has a market cap of $75.75 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 5.73 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. Thomson Reuters’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 EPS. As a group, equities analysts forecast that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a dividend of $0.54 per share. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.16 annualized dividend and a dividend yield of 1.28%. Thomson Reuters’s payout ratio is presently 42.52%.

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.