Envestnet Asset Management Inc. trimmed its stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 22.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,580 shares of the business services provider's stock after selling 45,541 shares during the period. Envestnet Asset Management Inc.'s holdings in Thomson Reuters were worth $27,914,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Curio Wealth LLC acquired a new stake in Thomson Reuters during the fourth quarter worth about $26,000. Investment Management Corp VA ADV acquired a new stake in Thomson Reuters during the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC grew its holdings in Thomson Reuters by 60.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider's stock worth $58,000 after acquiring an additional 136 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Thomson Reuters by 25.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider's stock worth $71,000 after acquiring an additional 84 shares during the period. Finally, Fifth Third Bancorp boosted its position in Thomson Reuters by 42.8% during the first quarter. Fifth Third Bancorp now owns 484 shares of the business services provider's stock worth $84,000 after purchasing an additional 145 shares in the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on TRI shares. TD Securities reiterated a "hold" rating on shares of Thomson Reuters in a research report on Tuesday. Wells Fargo & Company increased their price target on Thomson Reuters from $187.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Monday, June 16th. Barclays increased their price target on Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Wall Street Zen downgraded Thomson Reuters from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. increased their price target on Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $187.30.
Check Out Our Latest Research Report on TRI
Thomson Reuters Price Performance
Shares of NYSE TRI traded up $0.84 during midday trading on Wednesday, hitting $211.23. The stock had a trading volume of 1,916,673 shares, compared to its average volume of 479,434. The company has a market capitalization of $95.17 billion, a PE ratio of 43.20, a P/E/G ratio of 5.67 and a beta of 0.76. The stock has a 50 day simple moving average of $196.32 and a 200-day simple moving average of $180.27. Thomson Reuters Co. has a 1 year low of $150.01 and a 1 year high of $218.42. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.
Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its earnings results on Thursday, May 1st. The business services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.07. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 earnings per share. On average, sell-side analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.
Thomson Reuters Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were given a dividend of $0.595 per share. The ex-dividend date was Thursday, May 15th. This represents a $2.38 dividend on an annualized basis and a yield of 1.13%. Thomson Reuters's payout ratio is 49.69%.
About Thomson Reuters
(
Free Report)
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.
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