Aigen Investment Management LP Buys Shares of 5,755 Thomson Reuters Co. (NYSE:TRI)

Key Points

• Aigen Investment Management LP acquired a new stake in Thomson Reuters Co., purchasing 5,755 shares valued at approximately $994,000.
• The company reported a quarterly earnings of $0.87 per share, surpassing estimates and representing a 2.6% increase in revenue year-over-year.
• Thomson Reuters announced a quarterly dividend of $0.595 per share, set to be paid on September 10th, reflecting a 1.3% dividend yield.

Aigen Investment Management LP purchased a new position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,755 shares of the business services provider's stock, valued at approximately $994,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Thomson Reuters by 7.0% during the 1st quarter. Invesco Ltd. now owns 154,314 shares of the business services provider's stock valued at $26,662,000 after buying an additional 10,085 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Thomson Reuters by 1.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,537,660 shares of the business services provider's stock worth $437,985,000 after acquiring an additional 44,898 shares in the last quarter. CenterBook Partners LP acquired a new stake in Thomson Reuters in the first quarter worth about $921,000. Headlands Technologies LLC lifted its holdings in shares of Thomson Reuters by 24,790.9% during the first quarter. Headlands Technologies LLC now owns 2,738 shares of the business services provider's stock worth $473,000 after purchasing an additional 2,727 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of Thomson Reuters during the first quarter worth about $1,575,000. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Stock Down 0.3%

NYSE TRI traded down $0.58 on Wednesday, hitting $169.73. 1,569,049 shares of the stock traded hands, compared to its average volume of 877,294. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $197.80 and a 200 day moving average of $185.21. The company has a market capitalization of $76.49 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. Thomson Reuters Co. has a twelve month low of $151.60 and a twelve month high of $218.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.79 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. As a group, analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a dividend of $0.595 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $2.38 dividend on an annualized basis and a yield of 1.4%. Thomson Reuters's dividend payout ratio (DPR) is 65.75%.

Analyst Ratings Changes

A number of analysts have recently commented on TRI shares. Wall Street Zen cut Thomson Reuters from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. National Bankshares reaffirmed an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. Canaccord Genuity Group lifted their price target on Thomson Reuters from $181.00 to $182.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Barclays lifted their price target on Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, CIBC lifted their price target on Thomson Reuters from $174.00 to $201.00 and gave the stock an "outperformer" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $194.20.

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.