Legacy Wealth Asset Management LLC Sells 1,734 Shares of Thomson Reuters Co. $TRI

Key Points

• Legacy Wealth Asset Management LLC sold 1,734 shares of Thomson Reuters Co., reducing its stake by 14.5% and leaving it with 10,242 shares valued at approximately $2.06 million.
• Several institutional investors, including Goldman Sachs which increased its stake by 36.1%, and TD Asset Management, have been actively adjusting their positions in the company.
• Analysts have upgraded Thomson Reuters, with Scotiabank raising its target price from $188 to $200, reflecting a consensus rating of "Moderate Buy" with an average target of $202.64.

Legacy Wealth Asset Management LLC decreased its stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 14.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,242 shares of the business services provider's stock after selling 1,734 shares during the quarter. Legacy Wealth Asset Management LLC's holdings in Thomson Reuters were worth $2,060,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TD Asset Management Inc increased its stake in Thomson Reuters by 3.0% in the second quarter. TD Asset Management Inc now owns 5,681,469 shares of the business services provider's stock valued at $1,140,208,000 after acquiring an additional 166,977 shares during the period. Vanguard Group Inc. increased its stake in Thomson Reuters by 1.8% in the first quarter. Vanguard Group Inc. now owns 5,476,600 shares of the business services provider's stock valued at $945,069,000 after acquiring an additional 94,758 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Thomson Reuters by 1.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,537,660 shares of the business services provider's stock valued at $437,985,000 after acquiring an additional 44,898 shares during the period. 1832 Asset Management L.P. increased its stake in Thomson Reuters by 1.0% in the first quarter. 1832 Asset Management L.P. now owns 1,665,117 shares of the business services provider's stock valued at $287,699,000 after acquiring an additional 17,223 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Thomson Reuters by 36.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,588,508 shares of the business services provider's stock valued at $274,462,000 after acquiring an additional 421,279 shares during the period. Institutional investors own 17.31% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TRI. Scotiabank raised shares of Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and upped their target price for the company from $188.00 to $200.00 in a research note on Wednesday, August 6th. TD Securities raised shares of Thomson Reuters from a "hold" rating to a "buy" rating and upped their target price for the company from $275.00 to $285.00 in a research note on Thursday, August 28th. Canaccord Genuity Group boosted their price target on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. Morgan Stanley reduced their price target on shares of Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 11th. Finally, The Goldman Sachs Group set a $186.00 price target on shares of Thomson Reuters and gave the company a "buy" rating in a research report on Wednesday, October 15th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $202.64.

Thomson Reuters Price Performance

Shares of TRI stock opened at $160.85 on Tuesday. Thomson Reuters Co. has a 1 year low of $149.47 and a 1 year high of $218.42. The firm's 50 day moving average is $165.80 and its 200-day moving average is $182.69. The firm has a market capitalization of $72.22 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 5.67 and a beta of 0.74. 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 announced its earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.79 billion. During the same period in the prior year, the business earned $0.85 earnings per share. Thomson Reuters's quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 19th. Thomson Reuters's dividend payout ratio is presently 65.75%.

About Thomson Reuters

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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