Thomson Reuters Co. (NYSE:TRI) Shares Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. lifted its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 87.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,161 shares of the business services provider's stock after acquiring an additional 5,686 shares during the period. Griffin Asset Management Inc.'s holdings in Thomson Reuters were worth $2,101,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TRI. Mackenzie Financial Corp raised its position in Thomson Reuters by 139.5% during the fourth quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock valued at $1,370,564,000 after purchasing an additional 4,977,006 shares during the period. Norges Bank bought a new position in Thomson Reuters in the fourth quarter worth approximately $148,221,000. Geode Capital Management LLC grew its stake in Thomson Reuters by 74.3% in 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 purchasing an additional 560,450 shares in the last quarter. TD Asset Management Inc. boosted its position in Thomson Reuters by 12.2% during the 4th quarter. TD Asset Management Inc. now owns 4,764,429 shares of the business services provider's stock valued at $764,654,000 after acquiring an additional 516,605 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Thomson Reuters by 52.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider's stock valued at $185,011,000 after acquiring an additional 395,481 shares in the last quarter. Institutional investors own 17.31% of the company's stock.

Wall Street Analyst Weigh In

TRI has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on Thomson Reuters from $177.00 to $178.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Wall Street Zen cut Thomson Reuters from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Royal Bank of Canada increased their price objective on Thomson Reuters from $182.00 to $185.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Barclays boosted their target price 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, Bank of America started coverage on Thomson Reuters in a research report on Thursday, April 10th. They set a "neutral" rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Thomson Reuters presently has an average rating of "Hold" and an average price target of $183.70.

Thomson Reuters Stock Performance

Shares of TRI stock traded down $1.90 during mid-day trading on Friday, reaching $195.20. The stock had a trading volume of 737,911 shares, compared to its average volume of 440,047. The business's fifty day moving average is $186.98 and its 200-day moving average is $174.87. 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 firm has a market cap of $87.93 billion, a price-to-earnings ratio of 39.92, a PEG ratio of 5.67 and a beta of 0.77. Thomson Reuters Co. has a 1-year low of $150.01 and a 1-year high of $199.11.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.07. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. The company's revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $1.11 earnings per share. On average, research analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were issued a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, May 15th. Thomson Reuters's dividend payout ratio (DPR) is 49.69%.

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.