Larson Financial Group LLC Has $2.75 Million Stock Position in Thomson Reuters Co. (NYSE:TRI)

Larson Financial Group LLC lifted its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,314 shares of the business services provider’s stock after acquiring an additional 396 shares during the quarter. Larson Financial Group LLC’s holdings in Thomson Reuters were worth $2,750,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in Thomson Reuters by 1.8% during the first quarter. Assenagon Asset Management S.A. now owns 3,990 shares of the business services provider’s stock valued at $622,000 after buying an additional 70 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Thomson Reuters by 1.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock worth $1,252,000 after purchasing an additional 74 shares during the last quarter. Avitas Wealth Management LLC boosted its position in Thomson Reuters by 0.4% during the second quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock worth $3,508,000 after purchasing an additional 79 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Thomson Reuters by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its position in shares of Thomson Reuters by 5.8% in the first quarter. Gulf International Bank UK Ltd now owns 1,541 shares of the business services provider’s stock valued at $239,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Shares of TRI traded up $0.24 on Wednesday, reaching $168.39. 5,389 shares of the stock traded hands, compared to its average volume of 379,419. The firm has a market cap of $75.73 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 6.10 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 stock’s 50-day moving average price is $164.88 and its 200-day moving average price is $162.53. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the company posted $0.84 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Equities analysts forecast that Thomson Reuters Co. will post 3.72 EPS for the current fiscal year.

Thomson Reuters Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.146 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Thursday, August 15th. Thomson Reuters’s payout ratio is 41.14%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $164.00 to $182.00 in a report on Tuesday, August 27th. Finally, Royal Bank of Canada dropped their price objective on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Thomson Reuters has an average rating of “Hold” and an average target price 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.