Apollon Wealth Management LLC Invests $1.73 Million in Thomson Reuters Co. (NYSE:TRI)

Apollon Wealth Management LLC acquired a new stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,802 shares of the business services provider's stock, valued at approximately $1,726,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of Nova Scotia purchased a new stake in shares of Thomson Reuters during the 3rd quarter valued at $170,036,000. FMR LLC grew its position in Thomson Reuters by 26.3% during the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider's stock valued at $692,059,000 after acquiring an additional 1,179,155 shares during the period. Legal & General Group Plc increased its stake in Thomson Reuters by 6,607,664.7% during the third quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider's stock worth $138,048,000 after acquiring an additional 1,123,303 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Thomson Reuters by 361.6% in the 3rd quarter. Toronto Dominion Bank now owns 1,142,194 shares of the business services provider's stock worth $139,713,000 after purchasing an additional 894,776 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Thomson Reuters by 6.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider's stock worth $500,872,000 after purchasing an additional 240,148 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on TRI. JPMorgan Chase & Co. lifted their price target on shares of Thomson Reuters from $152.00 to $163.00 and gave the company a "neutral" rating in a research report on Friday, May 3rd. National Bank Financial upgraded Thomson Reuters from an "underperform" rating to a "sector perform" rating in a report on Tuesday, April 23rd. Barclays upgraded Thomson Reuters from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $150.00 to $180.00 in a research note on Thursday, March 14th. Scotiabank increased their target price on Thomson Reuters from $159.00 to $164.00 and gave the company a "sector perform" rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price target on Thomson Reuters from $153.00 to $156.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 30th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $164.31.

Thomson Reuters Stock Up 0.1 %

Shares of NYSE:TRI traded up $0.08 during midday trading on Wednesday, reaching $167.02. The company had a trading volume of 383,109 shares, compared to its average volume of 326,267. Thomson Reuters Co. has a one year low of $117.46 and a one year high of $168.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $75.37 billion, a P/E ratio of 31.81, a PEG ratio of 4.52 and a beta of 0.65. The stock's fifty day moving average price is $155.73 and its 200-day moving average price is $147.30.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.17. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The company's revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 EPS. Equities research analysts expect that Thomson Reuters Co. will post 3.58 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.29%. Thomson Reuters's dividend payout ratio (DPR) is 41.14%.

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.