AGF Management Ltd. Sells 141,073 Shares of Thomson Reuters Co. (NYSE:TRI)

Key Points

• AGF Management Ltd. reduced its stake in Thomson Reuters by 30.5%, selling 141,073 shares in the first quarter, leaving it with approximately 321,168 shares valued at $55,986,000.
• Thomson Reuters reported earnings of $0.87 per share for its last quarter, exceeding estimates, and recorded a 2.6% year-over-year revenue increase to $1.81 billion.
• The company will pay a quarterly dividend of $0.595 per share on September 10th, with an annualized yield of 1.3%.

AGF Management Ltd. lessened its stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 30.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,168 shares of the business services provider's stock after selling 141,073 shares during the period. AGF Management Ltd. owned approximately 0.07% of Thomson Reuters worth $55,986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mackenzie Financial Corp grew its stake in Thomson Reuters by 139.5% in the 4th quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock worth $1,370,564,000 after buying an additional 4,977,006 shares in the last quarter. TD Asset Management Inc grew its stake in Thomson Reuters by 15.7% in the 1st quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock worth $951,477,000 after buying an additional 750,063 shares in the last quarter. Vanguard Group Inc. grew its stake in Thomson Reuters by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 5,476,600 shares of the business services provider's stock worth $945,069,000 after buying an additional 94,758 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Thomson Reuters by 1.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,537,660 shares of the business services provider's stock worth $437,985,000 after buying an additional 44,898 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Thomson Reuters by 5.5% in the 4th quarter. Bank of America Corp DE now owns 1,182,938 shares of the business services provider's stock worth $189,720,000 after acquiring an additional 61,235 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company's stock.

Thomson Reuters Trading Down 2.6%

NYSE TRI traded down $4.46 during trading on Tuesday, hitting $170.31. The company had a trading volume of 2,098,934 shares, compared to its average volume of 872,741. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a one year low of $151.60 and a one year high of $218.42. The company has a market cap of $76.75 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. The company's fifty day moving average is $197.80 and its 200-day moving average is $185.21.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the business earned $0.85 EPS. The company's revenue for the quarter was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a $0.595 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $2.38 annualized dividend and a yield of 1.4%. Thomson Reuters's dividend payout ratio is 65.75%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Royal Bank Of Canada lowered their price objective on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a report on Thursday, August 7th. TD Securities lowered their price objective on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a report on Thursday, August 7th. Wells Fargo & Company lowered their price objective on shares of Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Finally, Scotiabank upgraded shares of Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from $188.00 to $200.00 in a report on Wednesday, August 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Thomson Reuters presently has an average rating of "Hold" and a consensus target price of $194.20.

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.