Thomson Reuters Co. (NYSE:TRI) Shares Purchased by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC grew its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 547.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,943 shares of the business services provider’s stock after buying an additional 6,716 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Thomson Reuters were worth $1,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Thomson Reuters by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 318,713 shares of the business services provider’s stock worth $54,421,000 after purchasing an additional 10,016 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Thomson Reuters by 1.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 484,410 shares of the business services provider’s stock valued at $82,640,000 after purchasing an additional 8,962 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Thomson Reuters by 73.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,265 shares of the business services provider’s stock worth $728,000 after buying an additional 1,807 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Thomson Reuters by 11.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock valued at $439,665,000 after buying an additional 255,387 shares during the period. Finally, Hilton Capital Management LLC lifted its holdings in shares of Thomson Reuters by 1.8% in the third quarter. Hilton Capital Management LLC now owns 83,169 shares of the business services provider’s stock valued at $14,189,000 after buying an additional 1,460 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Stock Down 0.4 %

Shares of NYSE:TRI opened at $161.20 on Friday. The firm has a 50 day simple moving average of $167.38 and a 200 day simple moving average of $167.25. Thomson Reuters Co. has a 52 week low of $138.09 and a 52 week high of $176.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $72.53 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 5.47 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 EPS. As a group, research analysts expect that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be paid a $0.54 dividend. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 annualized dividend and a yield of 1.34%. The ex-dividend date is Thursday, November 21st. Thomson Reuters’s dividend payout ratio is currently 42.52%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted 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. Royal Bank of Canada lifted their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Friday. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Finally, Scotiabank increased their price objective on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $176.33.

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.