Novem Group Invests $984,000 in Thomson Reuters Co. $TRI

Key Points

• Novem Group has made a significant investment in Thomson Reuters Co., purchasing 4,892 shares for approximately $984,000 during the second quarter.
• Thomson Reuters reported $0.87 earnings per share for the last quarter, beating expectations, and its revenue was up 2.6% compared to the previous year.
• The company recently declared a quarterly dividend of $0.595 per share, resulting in an annualized dividend yield of 1.5%.

Novem Group bought a new position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI during the second quarter, according to its most recent filing with the SEC. The fund bought 4,892 shares of the business services provider's stock, valued at approximately $984,000.

A number of other hedge funds also recently made changes to their positions in the business. Old North State Wealth Management LLC bought a new stake in shares of Thomson Reuters during the 2nd quarter worth $202,000. IMS Capital Management bought a new stake in shares of Thomson Reuters during the 2nd quarter worth $632,000. Ballentine Partners LLC raised its stake in shares of Thomson Reuters by 9.1% during the 2nd quarter. Ballentine Partners LLC now owns 5,034 shares of the business services provider's stock worth $1,012,000 after purchasing an additional 420 shares during the period. Norden Group LLC raised its stake in shares of Thomson Reuters by 19.1% during the 2nd quarter. Norden Group LLC now owns 1,878 shares of the business services provider's stock worth $378,000 after purchasing an additional 301 shares during the period. Finally, Wealth Advisory Solutions LLC bought a new stake in shares of Thomson Reuters during the 2nd quarter worth $280,000. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Stock Down 0.6%

TRI stock opened at $157.02 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $70.50 billion, a PE ratio of 32.11, a PEG ratio of 5.67 and a beta of 0.74. Thomson Reuters Co. has a twelve month low of $151.60 and a twelve month high of $218.42. The stock has a 50-day simple moving average of $179.27 and a two-hundred day simple moving average of $184.49.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The business 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 company's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. On average, equities analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $0.595 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $2.38 annualized dividend and a dividend yield of 1.5%. Thomson Reuters's payout ratio is presently 65.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TRI shares. National Bankshares reiterated an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. TD Securities upgraded Thomson Reuters from a "hold" rating to a "buy" rating and boosted their price objective for the company from $275.00 to $285.00 in a research note on Thursday, August 28th. CIBC upgraded Thomson Reuters from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 19th. Wells Fargo & Company upgraded Thomson Reuters from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $187.00 to $212.00 in a research note on Tuesday, September 9th. Finally, Morgan Stanley lowered their price objective on Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 11th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Thomson Reuters presently has an average rating of "Moderate Buy" and a consensus target price of $202.82.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.