JPMorgan Chase & Co. Increases Holdings in Thomson Reuters Co. (NYSE:TRI)

JPMorgan Chase & Co. lifted its position in shares of Thomson Reuters Co. (NYSE:TRIGet Rating) (TSE:TRI) by 3.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 721,873 shares of the business services provider’s stock after buying an additional 21,839 shares during the period. JPMorgan Chase & Co.’s holdings in Thomson Reuters were worth $75,227,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Charter Oak Capital Management LLC purchased a new stake in shares of Thomson Reuters during the 2nd quarter worth approximately $35,000. Glassman Wealth Services lifted its stake in Thomson Reuters by 64.1% in the 2nd quarter. Glassman Wealth Services now owns 343 shares of the business services provider’s stock valued at $36,000 after buying an additional 134 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Thomson Reuters in the 2nd quarter valued at approximately $55,000. Venture Visionary Partners LLC purchased a new stake in Thomson Reuters in the 2nd quarter valued at approximately $63,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Thomson Reuters in the 1st quarter valued at approximately $115,000. Hedge funds and other institutional investors own 21.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TRI. Royal Bank of Canada reduced their target price on Thomson Reuters from $118.00 to $116.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 2nd. Canaccord Genuity Group boosted their price target on Thomson Reuters from $115.00 to $122.00 and gave the company a “buy” rating in a report on Friday, August 5th. StockNews.com began coverage on Thomson Reuters in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Canaccord Genuity Group boosted their price target on Thomson Reuters from $115.00 to $122.00 and gave the company a “buy” rating in a report on Monday, August 8th. Finally, BMO Capital Markets boosted their price target on Thomson Reuters from $160.00 to $165.00 in a report on Wednesday, November 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.67.

Thomson Reuters Trading Up 0.3 %

TRI stock opened at $115.50 on Thursday. The company has a market cap of $55.54 billion, a price-to-earnings ratio of 59.84, a PEG ratio of 4.16 and a beta of 0.56. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $106.01 and a 200-day simple moving average of $105.59. Thomson Reuters Co. has a 52 week low of $91.55 and a 52 week high of $122.76.

Thomson Reuters Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, November 17th will be issued a dividend of $0.322 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 1.12%. Thomson Reuters’s payout ratio is 92.23%.

Thomson Reuters Company Profile

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Thomson Reuters Corporation provides 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.

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Institutional Ownership by Quarter for Thomson Reuters (NYSE:TRI)

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