Argent Capital Management LLC Raises Stock Holdings in Thomson Reuters Co. $TRI

Key Points

• Argent Capital Management LLC increased its stake in Thomson Reuters Co. by 3.1% during the second quarter, now owning 99,145 shares valued at approximately $19.94 million.
• Thomson Reuters reported earnings of $0.87 per share for the quarter, exceeding analysts' expectations of $0.83, along with a revenue of $1.81 billion.
• Thomson Reuters announced a quarterly dividend of $0.595 per share, resulting in an annual yield of 1.5% and a payout ratio of 65.75%.

Argent Capital Management LLC increased its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,145 shares of the business services provider's stock after acquiring an additional 2,975 shares during the period. Argent Capital Management LLC's holdings in Thomson Reuters were worth $19,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in Thomson Reuters by 1.5% in the 1st quarter. Rhumbline Advisers now owns 4,456 shares of the business services provider's stock worth $770,000 after acquiring an additional 68 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Thomson Reuters by 41.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider's stock worth $41,000 after purchasing an additional 69 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in Thomson Reuters by 25.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider's stock worth $71,000 after purchasing an additional 84 shares during the period. Assenagon Asset Management S.A. grew its position in Thomson Reuters by 1.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 6,011 shares of the business services provider's stock worth $1,206,000 after purchasing an additional 85 shares during the period. Finally, Compound Planning Inc. grew its position in Thomson Reuters by 5.5% during the 1st quarter. Compound Planning Inc. now owns 1,919 shares of the business services provider's stock worth $332,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 17.31% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TRI shares. National Bankshares reaffirmed an "outperform" rating on shares of Thomson Reuters in a research report on Thursday, July 10th. Morgan Stanley cut their price target on Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 11th. Royal Bank Of Canada cut their price target on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 7th. CIBC upgraded Thomson Reuters from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 19th. Finally, Canaccord Genuity Group raised their target price on Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Thomson Reuters presently has an average rating of "Moderate Buy" and an average target price of $202.82.

Thomson Reuters Trading Up 0.4%

TRI opened at $163.09 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The company's 50 day simple moving average is $183.40 and its two-hundred day simple moving average is $185.06. Thomson Reuters Co. has a 1-year low of $151.60 and a 1-year high of $218.42. The firm has a market capitalization of $73.23 billion, a price-to-earnings ratio of 33.35, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74.

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

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Thomson Reuters's dividend payout ratio (DPR) is 65.75%.

Thomson Reuters Company 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.

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