Cerity Partners LLC Purchases 14,223 Shares of Thomson Reuters Co. (NYSE:TRI)

Cerity Partners LLC grew its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 106.7% in the third quarter, HoldingsChannel reports. The fund owned 27,554 shares of the business services provider’s stock after buying an additional 14,223 shares during the period. Cerity Partners LLC’s holdings in Thomson Reuters were worth $4,701,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Rothschild Investment LLC bought a new stake in Thomson Reuters in the 2nd quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its position in shares of Thomson Reuters by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after buying an additional 80 shares in the last quarter. Asset Dedication LLC boosted its stake in shares of Thomson Reuters by 125.0% in the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after buying an additional 130 shares during the period. Clean Yield Group acquired a new stake in Thomson Reuters during the third quarter worth approximately $42,000. Finally, Ashton Thomas Securities LLC bought a new position in Thomson Reuters during the 3rd quarter worth $47,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Stock Up 0.6 %

Shares of TRI opened at $161.70 on Friday. The stock has a market capitalization of $72.75 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 5.44 and a beta of 0.73. Thomson Reuters Co. has a 52 week low of $138.57 and a 52 week high of $176.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a fifty day moving average of $166.69 and a 200-day moving average of $167.08.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Thomson Reuters Co. will post 3.69 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.16 annualized dividend and a dividend yield of 1.34%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio (DPR) is presently 42.52%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TRI. Royal Bank of Canada increased their target price on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Scotiabank lifted their price objective on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company began coverage on Thomson Reuters in a research note on Tuesday. They set an “equal weight” rating and a $165.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $175.20.

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.