Citigroup Inc. Lowers Stock Holdings in Thomson Reuters Co. $TRI

Key Points

• Citigroup Inc. has significantly reduced its stake in Thomson Reuters Co. by 46.5%, now holding 54,871 shares valued at approximately $9.47 million following the sale of 47,753 shares in the first quarter.
• A variety of institutional investors have altered their holdings in Thomson Reuters, with Mackenzie Financial Corp. notably increasing its position by 139.5% to over 8.5 million shares.
• Thomson Reuters recently reported a quarterly earnings per share (EPS) of $0.87, exceeding expectations, alongside an announcement of a quarterly dividend of $0.595 per share.

Citigroup Inc. cut its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 46.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,871 shares of the business services provider's stock after selling 47,753 shares during the quarter. Citigroup Inc.'s holdings in Thomson Reuters were worth $9,467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in Thomson Reuters in the first quarter valued at about $626,000. Cambridge Investment Research Advisors Inc. raised its stake in Thomson Reuters by 7.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,277 shares of the business services provider's stock valued at $1,948,000 after buying an additional 776 shares during the last quarter. Callan Capital LLC purchased a new stake in Thomson Reuters in the first quarter valued at about $244,000. Ameriprise Financial Inc. increased its holdings in shares of Thomson Reuters by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 33,663 shares of the business services provider's stock valued at $5,683,000 after purchasing an additional 313 shares during the period. Finally, TD Asset Management Inc increased its holdings in shares of Thomson Reuters by 15.7% in the first quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock valued at $951,477,000 after purchasing an additional 750,063 shares during the period. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TRI. Barclays increased their price objective on Thomson Reuters from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. CIBC raised Thomson Reuters from a "neutral" rating to an "outperform" rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on Thomson Reuters from $177.00 to $178.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Wells Fargo & Company cut their price objective on Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Finally, National Bankshares reissued an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Thomson Reuters presently has a consensus rating of "Hold" and a consensus price target of $194.20.

Thomson Reuters Stock Performance

Thomson Reuters stock traded up $0.32 during midday trading on Thursday, hitting $176.09. 990,273 shares of the company were exchanged, compared to its average volume of 888,035. The firm has a market capitalization of $79.35 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. Thomson Reuters Co. has a fifty-two week low of $151.60 and a fifty-two week high of $218.42. The business has a fifty day simple moving average of $194.72 and a two-hundred day simple moving average of $185.34. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its earnings results 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. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.Thomson Reuters's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. On average, sell-side analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Announces Dividend

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

Thomson Reuters Company 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.