Prosperity Consulting Group LLC Takes $748,000 Position in Thomson Reuters Co. (NYSE:TRI)

Prosperity Consulting Group LLC bought a new stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,803 shares of the business services provider’s stock, valued at approximately $748,000.

A number of other large investors have also recently modified their holdings of TRI. Qube Research & Technologies Ltd bought a new stake in shares of Thomson Reuters during the 3rd quarter valued at about $6,017,000. Schonfeld Strategic Advisors LLC purchased a new position in Thomson Reuters during the 3rd quarter valued at about $709,000. Glenmede Trust Co. NA purchased a new position in Thomson Reuters during the 3rd quarter valued at about $1,084,000. Legal & General Group Plc lifted its position in Thomson Reuters by 6,607,664.7% during the 3rd quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock valued at $138,048,000 after acquiring an additional 1,123,303 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in 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 valued at $500,872,000 after acquiring an additional 240,148 shares during the period. Institutional investors own 17.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. National Bank Financial raised shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. lifted their target price on shares of Thomson Reuters from $152.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. TD Securities lifted their target price on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. Scotiabank lifted their target price on shares of Thomson Reuters from $159.00 to $164.00 and gave the stock a “sector perform” rating in a report on Friday, May 3rd. Finally, Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $150.00 to $180.00 in a report on Thursday, March 14th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $170.64.

Thomson Reuters Stock Performance

NYSE TRI traded up $0.82 during trading hours on Friday, hitting $169.22. 441,675 shares of the company’s stock traded hands, compared to its average volume of 401,156. The business’s fifty day moving average price is $168.17 and its two-hundred day moving average price is $157.71. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $76.08 billion, a P/E ratio of 32.22, a P/E/G ratio of 6.43 and a beta of 0.72. Thomson Reuters Co. has a 52 week low of $117.46 and a 52 week high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.17. The company had revenue of $1.89 billion during 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 firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 earnings per share. Equities research analysts predict that Thomson Reuters Co. will post 3.67 EPS for the current year.

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a dividend of $0.54 per share. The ex-dividend date was Wednesday, May 15th. This represents a $2.16 annualized dividend and a yield of 1.28%. Thomson Reuters’s dividend payout ratio (DPR) is 40.57%.

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.