Thomson Reuters Co. (NYSE:TRI) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 31.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,774 shares of the business services provider's stock after selling 4,460 shares during the period. Allianz Asset Management GmbH's holdings in Thomson Reuters were worth $1,686,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TRI. Mackenzie Financial Corp boosted its position in Thomson Reuters by 139.5% during the fourth quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock worth $1,370,564,000 after acquiring an additional 4,977,006 shares during the last quarter. Geode Capital Management LLC raised its stake in Thomson Reuters by 74.3% during the fourth quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider's stock worth $214,236,000 after purchasing an additional 560,450 shares during the period. Bank of America Corp DE raised its stake in Thomson Reuters by 5.5% during the fourth quarter. Bank of America Corp DE now owns 1,182,938 shares of the business services provider's stock worth $189,720,000 after purchasing an additional 61,235 shares during the period. JPMorgan Chase & Co. raised its stake in Thomson Reuters by 8.8% during the fourth quarter. JPMorgan Chase & Co. now owns 690,226 shares of the business services provider's stock worth $110,699,000 after purchasing an additional 56,044 shares during the period. Finally, Toronto Dominion Bank raised its stake in Thomson Reuters by 19.1% during the fourth quarter. Toronto Dominion Bank now owns 612,251 shares of the business services provider's stock worth $98,187,000 after purchasing an additional 98,001 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TRI shares. National Bankshares reaffirmed an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. Scotiabank reaffirmed a "sector perform" rating and set a $188.00 price target on shares of Thomson Reuters in a research note on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Bank of America assumed coverage on shares of Thomson Reuters in a research note on Thursday, April 10th. They issued a "neutral" rating and a $180.00 target price on the stock. Finally, TD Securities reissued a "hold" rating on shares of Thomson Reuters in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters presently has a consensus rating of "Hold" and a consensus price target of $193.00.

Thomson Reuters Stock Up 0.1%

Thomson Reuters stock traded up $0.17 during midday trading on Friday, hitting $201.08. 1,278,984 shares of the stock were exchanged, compared to its average volume of 824,183. Thomson Reuters Co. has a 1 year low of $150.01 and a 1 year high of $218.42. The firm has a market cap of $90.60 billion, a P/E ratio of 41.12, a P/E/G ratio of 5.67 and a beta of 0.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The company has a 50 day moving average price of $199.32 and a two-hundred day moving average price of $183.60.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.07. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm posted $1.11 EPS. The firm's quarterly revenue was up .8% 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 fiscal year.

About Thomson Reuters

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.