Hsbc Holdings PLC Decreases Stock Holdings in Thomson Reuters Co. $TRI

Key Points

• Hsbc Holdings PLC reduced its stake in Thomson Reuters Co. by 9.5% during the first quarter, resulting in holdings valued at $23.46 million.
• Thomson Reuters reported a quarterly earnings per share (EPS) of $0.87, exceeding estimates, with revenue up 2.6% year-over-year.
• The company declared a quarterly dividend of $0.595, with an ex-dividend date set for August 19th, reflecting an annual yield of 1.3%.

Hsbc Holdings PLC decreased its position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 9.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,120 shares of the business services provider's stock after selling 14,324 shares during the period. Hsbc Holdings PLC's holdings in Thomson Reuters were worth $23,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of TRI. Mackenzie Financial Corp grew its holdings in shares of Thomson Reuters by 139.5% in 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 purchasing an additional 4,977,006 shares during the last quarter. TD Asset Management Inc grew 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 worth $951,477,000 after purchasing an additional 750,063 shares during the last quarter. Nuveen LLC bought a new position in shares of Thomson Reuters in the first quarter worth about $23,126,000. GAMMA Investing LLC grew its holdings in shares of Thomson Reuters by 16,802.9% in the first quarter. GAMMA Investing LLC now owns 116,799 shares of the business services provider's stock worth $20,181,000 after purchasing an additional 116,108 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Thomson Reuters by 111.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 186,426 shares of the business services provider's stock worth $29,899,000 after purchasing an additional 98,441 shares during the last quarter. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock traded up $2.61 during midday trading on Thursday, hitting $177.49. The company had a trading volume of 831,295 shares, compared to its average volume of 889,173. Thomson Reuters Co. has a 12-month low of $151.60 and a 12-month high of $218.42. The company has a fifty day simple moving average of $193.16 and a 200 day simple moving average of $185.45. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a market cap of $79.99 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 5.67 and a beta of 0.77.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the company earned $0.85 EPS. Thomson Reuters's quarterly revenue was up 2.6% on a year-over-year basis. As a group, analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $0.595 dividend. This represents a $2.38 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, August 19th. Thomson Reuters's dividend payout ratio is 65.75%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Thomson Reuters from $181.00 to $182.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Wells Fargo & Company lowered their price objective on shares of Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. TD Securities raised shares of Thomson Reuters from a "hold" rating to a "buy" rating and increased their price target for the company from $275.00 to $285.00 in a research report on Thursday. Barclays increased their price target on shares of Thomson Reuters from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Thomson Reuters from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Thomson Reuters presently has a consensus rating of "Moderate Buy" and a consensus price target of $201.90.

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.