Bridgewater Associates LP Invests $11.69 Million in Thomson Reuters Co. (NYSE:TRI)

Bridgewater Associates LP bought a new position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the third quarter, Holdings Channel.com reports. The fund bought 68,459 shares of the business services provider’s stock, valued at approximately $11,690,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TRI. Janus Henderson Group PLC increased its position in Thomson Reuters by 23.8% in the 1st quarter. Janus Henderson Group PLC now owns 16,770 shares of the business services provider’s stock valued at $2,612,000 after acquiring an additional 3,223 shares during the period. &PARTNERS acquired a new position in Thomson Reuters in the 2nd quarter valued at about $278,000. Aigen Investment Management LP increased its position in Thomson Reuters by 87.4% in the 3rd quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider’s stock valued at $1,250,000 after acquiring an additional 3,417 shares during the period. Meridian Wealth Management LLC acquired a new position in Thomson Reuters in the 3rd quarter valued at about $4,506,000. Finally, Toronto Dominion Bank increased its position in Thomson Reuters by 87.1% in the 2nd quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock valued at $85,136,000 after acquiring an additional 235,145 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of NYSE:TRI opened at $161.70 on Friday. The business’s 50 day simple moving average is $166.69 and its 200-day simple moving average is $167.08. The firm has a market capitalization of $72.75 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 5.47 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. Thomson Reuters Co. has a 12 month low of $138.57 and a 12 month high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 EPS. As a group, equities analysts forecast that Thomson Reuters Co. will post 3.69 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.54 per share. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.16 annualized dividend and a dividend yield of 1.34%. Thomson Reuters’s payout ratio is 42.52%.

Analyst Ratings Changes

Several equities analysts recently issued reports on TRI shares. Wells Fargo & Company started coverage on Thomson Reuters in a research report on Tuesday. They issued an “equal weight” rating and a $165.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday, November 6th. StockNews.com lowered Thomson Reuters from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. Finally, Scotiabank lifted their price objective on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $175.20.

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.