Griffin Asset Management Inc. Buys 245 Shares of Thomson Reuters Co. (NYSE:TRI)

Griffin Asset Management Inc. increased its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 4.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,175 shares of the business services provider’s stock after acquiring an additional 245 shares during the quarter. Griffin Asset Management Inc.’s holdings in Thomson Reuters were worth $1,053,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TRI. Rothschild Investment LLC acquired a new stake in Thomson Reuters during the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in Thomson Reuters by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after acquiring an additional 80 shares during the period. Asset Dedication LLC grew its holdings in Thomson Reuters by 125.0% during the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock worth $40,000 after acquiring an additional 130 shares during the period. Clean Yield Group acquired a new stake in Thomson Reuters during the 3rd quarter worth $42,000. Finally, Exchange Traded Concepts LLC grew its holdings in Thomson Reuters by 104.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock worth $56,000 after acquiring an additional 167 shares during the period. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Trading Up 1.1 %

TRI opened at $169.14 on Wednesday. The stock has a market capitalization of $76.07 billion, a P/E ratio of 32.46, a P/E/G ratio of 5.61 and a beta of 0.73. Thomson Reuters Co. has a 12 month low of $117.46 and a 12 month high of $176.03. The firm’s fifty day simple moving average is $167.95 and its 200 day simple moving average is $165.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the firm posted $0.84 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Thomson Reuters Co. will post 3.71 EPS for the current fiscal year.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.146 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.35%. Thomson Reuters’s dividend payout ratio (DPR) is presently 41.46%.

Analyst Ratings Changes

A number of analysts have commented on TRI shares. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $164.00 to $182.00 in a report on Tuesday, August 27th. Royal Bank of Canada reduced their price target on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $173.45.

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.