Sequoia Financial Advisors LLC Has $1.29 Million Stock Position in Thomson Reuters Co. $TRI

Key Points

• Sequoia Financial Advisors LLC increased its stake in Thomson Reuters by 90.1%, holding 6,436 shares worth approximately $1.29 million.
• Thomson Reuters reported a quarterly earnings per share of $0.87, surpassing estimates, with a year-over-year revenue growth of 2.6% to $1.81 billion.
• The company declared a quarterly dividend of $0.595 per share, resulting in an annualized dividend yield of 1.5%.

Sequoia Financial Advisors LLC lifted its stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 90.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,436 shares of the business services provider's stock after purchasing an additional 3,050 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Thomson Reuters were worth $1,294,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Yousif Capital Management LLC boosted its position in shares of Thomson Reuters by 8.3% in the 2nd quarter. Yousif Capital Management LLC now owns 2,161 shares of the business services provider's stock valued at $435,000 after purchasing an additional 165 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Thomson Reuters by 15.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,566 shares of the business services provider's stock valued at $2,948,000 after purchasing an additional 1,981 shares during the period. Concurrent Investment Advisors LLC boosted its position in shares of Thomson Reuters by 26.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 2,788 shares of the business services provider's stock valued at $561,000 after purchasing an additional 581 shares during the period. Apollon Wealth Management LLC boosted its position in shares of Thomson Reuters by 1.1% in the 2nd quarter. Apollon Wealth Management LLC now owns 7,845 shares of the business services provider's stock valued at $1,578,000 after purchasing an additional 86 shares during the period. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Thomson Reuters in the 2nd quarter valued at $77,000. Institutional investors and hedge funds own 17.31% of the company's stock.

Thomson Reuters Stock Down 1.8%

TRI opened at $156.37 on Friday. Thomson Reuters Co. has a fifty-two week low of $149.47 and a fifty-two week high of $218.42. The business has a 50-day moving average of $166.50 and a 200-day moving average of $182.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The company has a market capitalization of $70.21 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74.

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

Thomson Reuters Announces Dividend

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

Wall Street Analyst Weigh In

TRI has been the subject of a number of recent analyst reports. Canaccord Genuity Group increased their price target on Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. CIBC raised Thomson Reuters from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 19th. TD Securities raised Thomson Reuters from a "hold" rating to a "buy" rating and increased their price objective for the stock from $275.00 to $285.00 in a research note on Thursday, August 28th. The Goldman Sachs Group set a $186.00 price objective on Thomson Reuters and gave the stock a "buy" rating in a research note on Wednesday. Finally, Morgan Stanley reduced their price objective on Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating for the company in a research note on Thursday, September 11th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $202.64.

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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