InterOcean Capital Group LLC Invests $222,000 in Thomson Reuters Co. (NYSE:TRI)

InterOcean Capital Group LLC acquired a new position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,423 shares of the business services provider’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Thomson Reuters by 0.7% in the first quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider’s stock worth $894,442,000 after purchasing an additional 41,680 shares in the last quarter. FIL Ltd boosted its holdings in Thomson Reuters by 9.8% in the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after buying an additional 445,444 shares during the period. TD Asset Management Inc boosted its holdings in Thomson Reuters by 7.9% in the 1st quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider’s stock worth $630,534,000 after buying an additional 295,301 shares during the period. 1832 Asset Management L.P. grew its stake in Thomson Reuters by 0.8% in the 4th quarter. 1832 Asset Management L.P. now owns 1,783,086 shares of the business services provider’s stock valued at $260,723,000 after buying an additional 13,747 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Thomson Reuters by 3.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,333,533 shares of the business services provider’s stock valued at $207,804,000 after acquiring an additional 50,367 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TRI. JPMorgan Chase & Co. raised their price target on Thomson Reuters from $152.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Royal Bank of Canada raised their target price on Thomson Reuters from $153.00 to $156.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 30th. CIBC upped their price target on Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Scotiabank increased their price target on shares of Thomson Reuters from $159.00 to $164.00 and gave the stock a “sector perform” rating in a report on Friday, May 3rd. Finally, National Bank Financial raised shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a report on Tuesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $170.64.

Thomson Reuters Trading Down 0.7 %

Shares of TRI opened at $162.34 on Friday. The firm’s 50 day simple moving average is $168.40 and its 200 day simple moving average is $159.76. The company has a market capitalization of $73.00 billion, a P/E ratio of 30.92, a P/E/G ratio of 6.24 and a beta of 0.72. Thomson Reuters Co. has a 1-year low of $117.46 and a 1-year high of $176.03. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97.

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

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Wednesday, May 15th. Thomson Reuters’s payout ratio is currently 40.57%.

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.