Concurrent Investment Advisors LLC Has $231,000 Position in Thomson Reuters Co. (NYSE:TRI)

Concurrent Investment Advisors LLC raised its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 22.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,443 shares of the business services provider’s stock after purchasing an additional 269 shares during the period. Concurrent Investment Advisors LLC’s holdings in Thomson Reuters were worth $231,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Empower Advisory Group LLC increased its holdings in shares of Thomson Reuters by 5.6% in the fourth quarter. Empower Advisory Group LLC now owns 5,485 shares of the business services provider’s stock worth $880,000 after acquiring an additional 290 shares in the last quarter. Truist Financial Corp grew its position in shares of Thomson Reuters by 5.6% in the 4th quarter. Truist Financial Corp now owns 9,496 shares of the business services provider’s stock valued at $1,523,000 after purchasing an additional 500 shares during the period. CIBC Asset Management Inc increased its stake in Thomson Reuters by 52.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock worth $185,011,000 after purchasing an additional 395,481 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Thomson Reuters by 8.5% during the 4th quarter. Sanctuary Advisors LLC now owns 4,913 shares of the business services provider’s stock worth $834,000 after purchasing an additional 383 shares in the last quarter. Finally, Marks Group Wealth Management Inc raised its holdings in Thomson Reuters by 10.2% during the 4th quarter. Marks Group Wealth Management Inc now owns 4,579 shares of the business services provider’s stock worth $734,000 after buying an additional 422 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Scotiabank boosted their price target on Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a report on Friday, February 7th. Canaccord Genuity Group increased their price objective on Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a report on Friday, February 7th. The Goldman Sachs Group boosted their target price on Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, CIBC upped their price target on Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $182.09.

Thomson Reuters Trading Up 1.6 %

Shares of Thomson Reuters stock opened at $179.32 on Wednesday. Thomson Reuters Co. has a 52-week low of $149.50 and a 52-week high of $180.02. The stock has a market cap of $80.70 billion, a PE ratio of 36.67, a PEG ratio of 5.67 and a beta of 0.73. The firm has a 50-day moving average of $166.25 and a 200-day moving average of $166.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. As a group, sell-side analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.595 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.33%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s payout ratio is 48.67%.

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.