Assetmark Inc. Sells 75,007 Shares of Thomson Reuters Corp $TRI

Key Points

• Assetmark Inc. cut its stake in Thomson Reuters by 97.0% in Q4, selling 75,007 shares and leaving 2,315 shares worth about $305,000.
• Thomson Reuters shares are down 2.9% (opened at $90.18) and the company recently raised its quarterly dividend to $0.655 ($2.62 annualized, ~2.9% yield); analysts rate the stock a "Moderate Buy" with an average price target of $148.23.

Assetmark Inc. cut its stake in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 97.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,315 shares of the company's stock after selling 75,007 shares during the period. Assetmark Inc.'s holdings in Thomson Reuters were worth $305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dara Capital US Inc. bought a new stake in shares of Thomson Reuters during the fourth quarter valued at about $433,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Thomson Reuters by 19.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 77,601 shares of the company's stock valued at $10,235,000 after buying an additional 12,470 shares during the period. Greenleaf Trust increased its position in shares of Thomson Reuters by 2.5% during the fourth quarter. Greenleaf Trust now owns 7,327 shares of the company's stock valued at $966,000 after buying an additional 176 shares during the period. Signaturefd LLC increased its position in shares of Thomson Reuters by 3.9% during the fourth quarter. Signaturefd LLC now owns 8,763 shares of the company's stock valued at $1,156,000 after buying an additional 332 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in shares of Thomson Reuters by 6.7% during the fourth quarter. Stratos Wealth Partners LTD. now owns 14,060 shares of the company's stock valued at $1,854,000 after buying an additional 880 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Stock Down 2.9%

Shares of NASDAQ TRI opened at $90.18 on Friday. Thomson Reuters Corp has a one year low of $79.71 and a one year high of $218.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.64 and a quick ratio of 0.64. The firm's 50 day simple moving average is $93.03 and its two-hundred day simple moving average is $119.04. The stock has a market capitalization of $39.94 billion, a P/E ratio of 27.08, a PEG ratio of 1.38 and a beta of 0.83.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.01. Thomson Reuters had a net margin of 20.09% and a return on equity of 14.51%. The business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2.01 billion. As a group, analysts expect that Thomson Reuters Corp will post 4.4 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.655 per share. The ex-dividend date was Tuesday, February 17th. This is an increase from Thomson Reuters's previous quarterly dividend of $0.60. This represents a $2.62 dividend on an annualized basis and a yield of 2.9%. Thomson Reuters's dividend payout ratio (DPR) is 78.68%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. BMO Capital Markets set a $165.00 price objective on shares of Thomson Reuters in a research report on Friday, February 6th. The Goldman Sachs Group set a $111.00 price objective on shares of Thomson Reuters and gave the stock a "buy" rating in a research report on Saturday, February 7th. Barclays decreased their price objective on shares of Thomson Reuters from $210.00 to $170.00 and set an "overweight" rating on the stock in a research report on Friday, April 10th. JPMorgan Chase & Co. decreased their price objective on shares of Thomson Reuters from $160.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, February 6th. Finally, Wells Fargo & Company set a $87.00 price objective on shares of Thomson Reuters and gave the stock an "equal weight" rating in a research report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $148.23.

Thomson Reuters Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada's Thomson Corporation (founded in 1934) and the UK's Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.

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