Oppenheimer Asset Management Inc. Buys 358 Shares of Thomson Reuters Co. (NYSE:TRI)

Oppenheimer Asset Management Inc. increased its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 5.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,012 shares of the business services provider’s stock after purchasing an additional 358 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Thomson Reuters were worth $1,182,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. bought a new position in shares of Thomson Reuters in the fourth quarter worth approximately $48,000. Dimensional Fund Advisors LP lifted its position in Thomson Reuters by 52.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 158,203 shares of the business services provider’s stock valued at $23,132,000 after acquiring an additional 54,140 shares in the last quarter. Avantax Advisory Services Inc. purchased a new stake in Thomson Reuters during the 4th quarter valued at $244,000. Janney Montgomery Scott LLC increased its holdings in shares of Thomson Reuters by 7.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,029 shares of the business services provider’s stock worth $882,000 after purchasing an additional 418 shares in the last quarter. Finally, TrinityPoint Wealth LLC purchased a new position in shares of Thomson Reuters in the fourth quarter worth $202,000. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Stock Performance

NYSE:TRI opened at $170.32 on Friday. The stock has a 50-day simple moving average of $165.37 and a two-hundred day simple moving average of $163.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. Thomson Reuters Co. has a 52-week low of $117.46 and a 52-week high of $176.03. The firm has a market capitalization of $76.59 billion, a PE ratio of 32.44, a P/E/G ratio of 5.82 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts forecast that Thomson Reuters Co. will post 3.71 EPS for the current year.

Thomson Reuters Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $0.146 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s dividend payout ratio (DPR) is 41.14%.

Analyst Ratings Changes

Several research firms recently commented on TRI. JPMorgan Chase & Co. increased their price objective on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Royal Bank of Canada cut their target price on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $164.00 to $182.00 in a report on Tuesday, August 27th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $173.45.

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.