Allianz Asset Management GmbH Purchases 94,026 Shares of Thomson Reuters Co. $TRI

Allianz Asset Management GmbH grew its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 962.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 103,800 shares of the business services provider’s stock after acquiring an additional 94,026 shares during the quarter. Allianz Asset Management GmbH’s holdings in Thomson Reuters were worth $20,831,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. PFG Investments LLC lifted its stake in Thomson Reuters by 2.2% during the second quarter. PFG Investments LLC now owns 2,660 shares of the business services provider’s stock worth $535,000 after purchasing an additional 57 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Thomson Reuters by 1.5% in the 1st quarter. Rhumbline Advisers now owns 4,456 shares of the business services provider’s stock valued at $770,000 after acquiring an additional 68 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Thomson Reuters by 41.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 69 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Thomson Reuters by 0.8% in the 2nd quarter. Signaturefd LLC now owns 8,426 shares of the business services provider’s stock valued at $1,695,000 after acquiring an additional 70 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in shares of Thomson Reuters by 3.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 2,362 shares of the business services provider’s stock valued at $474,000 after acquiring an additional 82 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $158.53 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $71.18 billion, a P/E ratio of 32.42, a PEG ratio of 5.67 and a beta of 0.74. The stock’s 50 day moving average is $166.08 and its 200 day moving average is $182.73. Thomson Reuters Co. has a twelve month low of $149.47 and a twelve month high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.79 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 EPS. On average, equities research analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $0.595 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $2.38 annualized dividend and a dividend yield of 1.5%. Thomson Reuters’s dividend payout ratio is presently 65.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $188.00 to $200.00 in a research note on Wednesday, August 6th. The Goldman Sachs Group set a $186.00 price target on Thomson Reuters and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley lowered their price target on Thomson Reuters from $197.00 to $187.00 and set an “equal weight” rating for the company in a research report on Thursday, September 11th. Wells Fargo & Company raised Thomson Reuters from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $187.00 to $212.00 in a research report on Tuesday, September 9th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Thomson Reuters in a research report on Thursday, July 10th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $202.64.

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.