Citigroup Inc. Sells 47,753 Shares of 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. decreased its position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 46.5% in the 1st quarter, according to the company in its most recent 13F filing 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 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its holdings in shares of 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 purchasing an additional 4,977,006 shares in the last quarter. TD Asset Management Inc increased its position in shares of Thomson Reuters by 15.7% during the 1st 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 last quarter. Vanguard Group Inc. increased its position in shares of Thomson Reuters by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 5,476,600 shares of the business services provider's stock valued at $945,069,000 after purchasing an additional 94,758 shares during the last quarter. Bank of America Corp DE increased its holdings in 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. Finally, Toronto Dominion Bank increased its holdings in Thomson Reuters by 19.1% in the 4th quarter. Toronto Dominion Bank now owns 612,251 shares of the business services provider's stock worth $98,187,000 after acquiring an additional 98,001 shares during the last quarter. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Price Performance

NYSE:TRI traded up $2.02 during mid-day trading on Tuesday, reaching $174.96. The stock had a trading volume of 1,319,391 shares, compared to its average volume of 885,156. The firm has a 50 day moving average price of $195.87 and a two-hundred day moving average price of $185.43. The stock has a market capitalization of $78.84 billion, a P/E ratio of 35.78, a P/E/G ratio of 5.67 and a beta of 0.77. Thomson Reuters Co. has a one year low of $151.60 and a one year high of $218.42. 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 released its earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. The company had revenue of $1.81 billion during 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%.Thomson Reuters's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. As a group, analysts expect 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 given 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 payout ratio is presently 65.75%.

Analyst Upgrades and Downgrades

TRI has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Barclays raised their target price on Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Wall Street Zen downgraded Thomson Reuters from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Royal Bank Of Canada cut their target price on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a research note on Thursday, August 7th. Finally, CIBC upgraded Thomson Reuters from a "neutral" rating to an "outperform" rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.