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

Apollon Wealth Management LLC acquired a new position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,802 shares of the business services provider’s stock, valued at approximately $1,726,000.

Several other hedge funds have also recently bought and sold shares of TRI. Commonwealth Equity Services LLC boosted its holdings in shares of Thomson Reuters by 1.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 7,331 shares of the business services provider’s stock valued at $897,000 after acquiring an additional 93 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Thomson Reuters by 5.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,224 shares of the business services provider’s stock worth $3,837,000 after acquiring an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Thomson Reuters by 55.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,812 shares of the business services provider’s stock valued at $7,194,000 after acquiring an additional 20,980 shares during the period. Advisor Partners II LLC raised its position in shares of Thomson Reuters by 41.8% during the third quarter. Advisor Partners II LLC now owns 11,195 shares of the business services provider’s stock worth $1,369,000 after purchasing an additional 3,300 shares during the period. Finally, Park Avenue Securities LLC bought a new position in shares of Thomson Reuters in the 3rd quarter worth $533,000. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Stock Performance

Shares of NYSE TRI traded up $0.35 during trading on Wednesday, reaching $167.28. 69,927 shares of the stock traded hands, compared to its average volume of 322,686. The company has a 50-day moving average of $155.73 and a 200-day moving average of $147.30. Thomson Reuters Co. has a 52-week low of $117.46 and a 52-week high of $168.64. The stock has a market capitalization of $75.49 billion, a P/E ratio of 31.80, a price-to-earnings-growth ratio of 4.52 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.17. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate 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 was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. Analysts forecast that Thomson Reuters Co. will post 3.58 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The business 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. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Wednesday, May 15th. Thomson Reuters’s payout ratio is currently 41.14%.

Analyst Ratings Changes

A number of research analysts have weighed in on TRI shares. Canaccord Genuity Group raised their price objective on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Royal Bank of Canada raised their target price on Thomson Reuters from $153.00 to $156.00 and gave the company a “sector perform” rating in a report on Tuesday, April 30th. National Bank Financial raised Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, April 23rd. TD Securities upped their target price on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, March 13th. Finally, Scotiabank upped their price objective on shares of Thomson Reuters from $159.00 to $164.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $164.31.

About Thomson Reuters

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.