SeaCrest Wealth Management LLC Invests $299,000 in Thomson Reuters Co. (NYSE:TRI)

SeaCrest Wealth Management LLC purchased a new position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,771 shares of the business services provider’s stock, valued at approximately $299,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TRI. Assenagon Asset Management S.A. boosted its stake in Thomson Reuters by 1.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,990 shares of the business services provider’s stock worth $622,000 after purchasing an additional 70 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake 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 period. EverSource Wealth Advisors LLC boosted its stake in Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after purchasing an additional 80 shares during the period. Gulf International Bank UK Ltd boosted its stake in Thomson Reuters by 5.8% in the 1st quarter. Gulf International Bank UK Ltd now owns 1,541 shares of the business services provider’s stock worth $239,000 after purchasing an additional 85 shares during the period. Finally, Hexagon Capital Partners LLC boosted its stake in Thomson Reuters by 12.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 834 shares of the business services provider’s stock worth $130,000 after purchasing an additional 90 shares during the period. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Trading Down 0.3 %

Shares of TRI stock traded down $0.45 during trading hours on Tuesday, reaching $163.35. The company’s stock had a trading volume of 122,585 shares, compared to its average volume of 385,884. The stock has a market capitalization of $73.45 billion, a P/E ratio of 31.20, a P/E/G ratio of 5.91 and a beta of 0.72. Thomson Reuters Co. has a one year low of $117.46 and a one year high of $176.03. The firm’s fifty day simple moving average is $164.72 and its 200 day simple moving average is $161.45. 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 issued its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. Equities research analysts expect that Thomson Reuters Co. will post 3.72 EPS for the current year.

Thomson Reuters Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $0.146 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.58 annualized dividend and a dividend yield of 0.36%. Thomson Reuters’s dividend payout ratio is presently 41.14%.

Analysts Set New Price Targets

Several brokerages have commented on TRI. JPMorgan Chase & Co. raised their target price on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Canaccord Genuity Group raised their price objective on Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a report on Friday, May 3rd. National Bank Financial raised Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada decreased their price target 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. Finally, Canaccord Genuity Group lifted their price target on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters presently has an average rating of “Hold” and an average price target of $171.82.

Thomson Reuters 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.