HB Wealth Management LLC Invests $249,000 in Thomson Reuters Co. (NYSE:TRI)

Key Points

• HB Wealth Management LLC has acquired 1,439 shares of Thomson Reuters Co. (NYSE:TRI), valued at approximately $249,000, as part of its new investment strategy in the 1st quarter.
• Several analysts have raised their price targets for Thomson Reuters, with CIBC and Royal Bank of Canada increasing targets to $201.00 and $215.00, respectively, while maintaining their "outperform" ratings.
• Thomson Reuters reported a net margin of 30.45% in its latest quarterly earnings, with an earnings per share of $1.12, surpassing analysts' expectations of $1.05.

HB Wealth Management LLC acquired a new stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,439 shares of the business services provider's stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRI. Brighton Jones LLC acquired a new stake in shares of Thomson Reuters during the fourth quarter worth $448,000. Franklin Resources Inc. boosted its stake in Thomson Reuters by 20.4% during the fourth quarter. Franklin Resources Inc. now owns 62,399 shares of the business services provider's stock worth $10,007,000 after acquiring an additional 10,591 shares in the last quarter. Geode Capital Management LLC boosted its stake in Thomson Reuters by 74.3% during the fourth quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider's stock worth $214,236,000 after acquiring an additional 560,450 shares in the last quarter. Huntington National Bank boosted its stake in Thomson Reuters by 20.7% during the fourth quarter. Huntington National Bank now owns 1,333 shares of the business services provider's stock worth $214,000 after acquiring an additional 229 shares in the last quarter. Finally, ExodusPoint Capital Management LP boosted its stake in Thomson Reuters by 141.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 22,700 shares of the business services provider's stock worth $3,641,000 after acquiring an additional 13,298 shares in the last quarter. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Price Performance

NYSE:TRI traded down $4.00 during trading hours on Tuesday, hitting $199.82. 1,430,716 shares of the stock traded hands, compared to its average volume of 827,165. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a 1 year low of $151.60 and a 1 year high of $218.42. The company has a market cap of $90.05 billion, a price-to-earnings ratio of 40.86, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. The stock has a 50 day moving average price of $199.62 and a 200 day moving average price of $184.60.

Analysts Set New Price Targets

A number of research analysts have weighed in on TRI shares. CIBC raised their price objective on shares of Thomson Reuters from $174.00 to $201.00 and gave the company an "outperformer" rating in a research note on Monday, July 21st. Royal Bank Of Canada boosted their price objective on shares of Thomson Reuters from $185.00 to $215.00 and gave the company a "sector perform" rating in a research note on Monday, July 28th. TD Securities reissued a "hold" rating on shares of Thomson Reuters in a research note on Tuesday, July 15th. National Bankshares restated an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. Finally, Bank of America initiated coverage on shares of Thomson Reuters in a report on Thursday, April 10th. They set a "neutral" rating and a $180.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $193.00.

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.