Shell Asset Management Co. Increases Stock Position in Thomson Reuters Co. $TRI

Shell Asset Management Co. grew its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 36.5% during the second quarter, Holdings Channel.com reports. The fund owned 42,311 shares of the business services provider’s stock after acquiring an additional 11,305 shares during the period. Shell Asset Management Co.’s holdings in Thomson Reuters were worth $8,491,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. raised its position in Thomson Reuters by 772.2% in the first quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 139 shares during the period. Ameritas Advisory Services LLC purchased a new position in Thomson Reuters during the 2nd quarter valued at about $37,000. SBI Securities Co. Ltd. grew its position in Thomson Reuters by 41.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 69 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Thomson Reuters by 42.8% during the first quarter. Fifth Third Bancorp now owns 484 shares of the business services provider’s stock worth $84,000 after purchasing an additional 145 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of Thomson Reuters by 1,008.9% in the first quarter. Whittier Trust Co. now owns 621 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 565 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Down 0.6%

Shares of NYSE:TRI opened at $152.03 on Tuesday. The firm has a 50 day simple moving average of $173.29 and a 200-day simple moving average of $183.93. Thomson Reuters Co. has a twelve month low of $149.88 and a twelve month high of $218.42. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $68.26 billion, a PE ratio of 31.09, a P/E/G ratio of 5.67 and a beta of 0.74.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the business earned $0.85 EPS. Thomson Reuters’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $0.595 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $2.38 annualized dividend and a yield of 1.6%. Thomson Reuters’s payout ratio is 65.75%.

Wall Street Analyst Weigh In

Several brokerages have commented on TRI. National Bankshares reissued an “outperform” rating on shares of Thomson Reuters in a research report on Thursday, July 10th. Wells Fargo & Company upgraded Thomson Reuters from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $187.00 to $212.00 in a report on Tuesday, September 9th. TD Securities upgraded Thomson Reuters from a “hold” rating to a “buy” rating and lifted their price objective for the company from $275.00 to $285.00 in a research note on Thursday, August 28th. Royal Bank Of Canada cut their target price on shares of Thomson Reuters from $215.00 to $208.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 7th. Finally, Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $188.00 to $200.00 in a report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.82.

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.