Oppenheimer Asset Management Inc. Reduces Position in Thomson Reuters Co. (NYSE:TRI)

Oppenheimer Asset Management Inc. cut its holdings in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 27.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,033 shares of the business services provider's stock after selling 1,914 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Thomson Reuters were worth $870,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Curio Wealth LLC bought a new stake in shares of Thomson Reuters during the fourth quarter valued at about $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Thomson Reuters during the fourth quarter valued at about $27,000. Investment Management Corp VA ADV bought a new stake in shares of Thomson Reuters during the fourth quarter valued at about $29,000. Noble Wealth Management PBC bought a new stake in shares of Thomson Reuters during the fourth quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Thomson Reuters by 60.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider's stock valued at $58,000 after buying an additional 136 shares during the period. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Stock Performance

NYSE TRI opened at $197.93 on Friday. The company has a market cap of $89.18 billion, a P/E ratio of 40.48, a P/E/G ratio of 5.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The business's 50 day moving average price is $191.34 and its 200-day moving average price is $176.90. Thomson Reuters Co. has a fifty-two week low of $150.01 and a fifty-two week high of $199.11.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.05 by $0.07. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company posted $1.11 EPS. Thomson Reuters's quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were issued a $0.595 dividend. This represents a $2.38 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, May 15th. Thomson Reuters's dividend payout ratio is presently 49.69%.

Analyst Ratings Changes

Several research firms recently weighed in on TRI. Scotiabank restated a "sector perform" rating and issued a $188.00 price objective on shares of Thomson Reuters in a research report on Friday, May 2nd. Bank of America started coverage on Thomson Reuters in a research note on Thursday, April 10th. They issued a "neutral" rating and a $180.00 target price for the company. JPMorgan Chase & Co. upped their target price on Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Wells Fargo & Company upped their target price on Thomson Reuters from $187.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Monday, June 16th. Finally, TD Securities upped their target price on Thomson Reuters from $177.00 to $182.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $187.30.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.