Assetmark Inc. Grows Holdings in Thomson Reuters Co. (NYSE:TRI)

Assetmark Inc. grew its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 0.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 74,658 shares of the business services provider’s stock after buying an additional 249 shares during the period. Assetmark Inc.’s holdings in Thomson Reuters were worth $10,916,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TRI. Trust Co. of Vermont acquired a new position in Thomson Reuters during the third quarter worth $27,000. Pacifica Partners Inc. raised its position in Thomson Reuters by 162.0% during the fourth quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock worth $34,000 after acquiring an additional 149 shares during the last quarter. Operose Advisors LLC acquired a new stake in shares of Thomson Reuters in the third quarter valued at approximately $37,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Thomson Reuters during the 4th quarter worth approximately $37,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in Thomson Reuters in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TRI shares. Scotiabank upped their price objective on Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. CIBC boosted their price target on Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. UBS Group raised their price objective on Thomson Reuters from $177.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. TD Securities upped their target price on Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, March 13th. Finally, Canaccord Genuity Group lifted their price target on Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $164.31.

Thomson Reuters Stock Down 0.3 %

Shares of NYSE TRI traded down $0.48 during trading on Wednesday, reaching $172.62. 70,453 shares of the stock were exchanged, compared to its average volume of 319,021. Thomson Reuters Co. has a twelve month low of $117.46 and a twelve month high of $173.67. The company has a market capitalization of $77.90 billion, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 4.59 and a beta of 0.65. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $158.07 and its 200 day moving average price is $150.62.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. Thomson Reuters’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, equities analysts forecast that Thomson Reuters Co. will post 3.67 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, May 15th. Thomson Reuters’s dividend payout ratio is currently 41.14%.

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.