Jones Financial Companies Lllp Sells 11,407 Shares of Thomson Reuters Co. $TRI

Key Points

• Jones Financial Companies Lllp reduced its stake in Thomson Reuters Co. by 47.8%, owning 12,462 shares after selling 11,407 shares.
• Wells Fargo upgraded Thomson Reuters from an "equal weight" to an "overweight" rating, raising the target price from $187.00 to $212.00.
• Thomson Reuters reported earnings of $0.87 per share for the last quarter, exceeding analysts' expectations of $0.83 and representing a year-over-year revenue increase of 2.6%.

Jones Financial Companies Lllp cut its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 47.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,462 shares of the business services provider's stock after selling 11,407 shares during the quarter. Jones Financial Companies Lllp's holdings in Thomson Reuters were worth $2,153,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mackenzie Financial Corp raised its position in shares of Thomson Reuters by 139.5% during 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 buying an additional 4,977,006 shares in the last quarter. TD Asset Management Inc raised 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 worth $951,477,000 after buying an additional 750,063 shares in the last quarter. Vanguard Group Inc. raised 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 worth $945,069,000 after buying an additional 94,758 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Thomson Reuters by 1.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,537,660 shares of the business services provider's stock worth $437,985,000 after buying an additional 44,898 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Thomson Reuters by 1.0% during the 1st quarter. 1832 Asset Management L.P. now owns 1,665,117 shares of the business services provider's stock worth $287,699,000 after buying an additional 17,223 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TRI. CIBC raised shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 19th. Canaccord Genuity Group lifted their price objective on shares of Thomson Reuters from $181.00 to $182.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Wells Fargo & Company raised shares of Thomson Reuters from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $187.00 to $212.00 in a research note on Tuesday, September 9th. Royal Bank Of Canada lowered their price objective on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $202.82.

Thomson Reuters Stock Performance

NYSE:TRI traded up $0.65 during trading hours on Wednesday, hitting $170.36. 277,586 shares of the company traded hands, compared to its average volume of 895,354. The stock has a market capitalization of $76.78 billion, a price-to-earnings ratio of 34.85, a P/E/G ratio of 5.67 and a beta of 0.74. Thomson Reuters Co. has a twelve month low of $151.60 and a twelve month high of $218.42. The firm has a 50-day moving average of $186.59 and a 200 day moving average of $185.36. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15.

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 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.79 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. On average, analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $0.595 dividend. This represents a $2.38 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Thomson Reuters's payout ratio 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.