Nuveen LLC Invests $23.13 Million in Thomson Reuters Co. $TRI

Key Points

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Nuveen LLC bought a new position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI during the first quarter, according to its most recent filing with the SEC. The fund bought 134,034 shares of the business services provider's stock, valued at approximately $23,126,000.

Other hedge funds also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Thomson Reuters during the 1st quarter worth $626,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Thomson Reuters by 7.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,277 shares of the business services provider's stock worth $1,948,000 after purchasing an additional 776 shares during the period. Callan Capital LLC bought a new stake in Thomson Reuters in the 1st quarter valued at about $244,000. Ameriprise Financial Inc. raised its stake in Thomson Reuters by 0.9% in the 4th quarter. Ameriprise Financial Inc. now owns 33,663 shares of the business services provider's stock valued at $5,683,000 after acquiring an additional 313 shares during the period. Finally, TD Asset Management Inc raised its stake in Thomson Reuters by 15.7% in the 1st quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock valued at $951,477,000 after acquiring an additional 750,063 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Price Performance

TRI stock traded up $2.46 during mid-day trading on Friday, reaching $178.55. 1,237,461 shares of the company traded hands, compared to its average volume of 890,218. 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 has a market capitalization of $80.46 billion, a P/E ratio of 36.51, a P/E/G ratio of 5.67 and a beta of 0.77. Thomson Reuters Co. has a 52-week low of $151.60 and a 52-week high of $218.42. The company has a fifty day moving average price of $194.39 and a 200-day moving average price of $185.53.

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. As a group, analysts anticipate 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 will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Thomson Reuters's payout ratio is presently 65.75%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TRI. National Bankshares restated an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. Barclays boosted their price objective on Thomson Reuters from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Thomson Reuters from $177.00 to $178.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Scotiabank upgraded Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $188.00 to $200.00 in a research note on Wednesday, August 6th. Finally, TD Securities lowered their price objective on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Thomson Reuters currently has an average rating of "Hold" and an average target price of $194.20.

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.