Assetmark Inc. Reduces Holdings in Thomson Reuters Co. (NYSE:TRI)

Key Points

• Assetmark Inc. reduced its stake in Thomson Reuters Co. by 1.6% in the first quarter, now holding 75,342 shares valued at approximately $13 million.
• Thomson Reuters reported earnings of $1.12 per share for the last quarter, exceeding estimates, but its revenue of $1.90 billion fell short of the forecast.
• The stock currently has a consensus rating of "Hold" with an average price target of $190.00, while several brokerages have mixed ratings ranging from "sell" to "outperform."

Assetmark Inc. decreased its stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,342 shares of the business services provider's stock after selling 1,245 shares during the period. Assetmark Inc.'s holdings in Thomson Reuters were worth $13,018,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TRI. Brighton Jones LLC bought a new position in shares of Thomson Reuters in the 4th quarter worth $448,000. Vanguard Group Inc. increased its holdings in shares of Thomson Reuters by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 5,381,842 shares of the business services provider's stock worth $864,195,000 after buying an additional 76,382 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Thomson Reuters by 8.8% in the 4th quarter. JPMorgan Chase & Co. now owns 690,226 shares of the business services provider's stock worth $110,699,000 after buying an additional 56,044 shares during the last quarter. Norges Bank bought a new position in shares of Thomson Reuters in the 4th quarter worth $148,221,000. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Thomson Reuters by 12.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 188,117 shares of the business services provider's stock worth $30,191,000 after buying an additional 21,016 shares during the last quarter. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Trading Down 1.3%

TRI traded down $2.67 during trading on Monday, hitting $200.78. 1,555,066 shares of the stock traded hands, compared to its average volume of 814,795. The firm has a market capitalization of $90.46 billion, a P/E ratio of 41.06, a price-to-earnings-growth ratio of 5.67 and a beta of 0.76. 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 firm has a 50-day moving average of $198.88 and a 200 day moving average of $182.73. Thomson Reuters Co. has a 12-month low of $150.01 and a 12-month high of $218.42.

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

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were given a $0.595 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.38 annualized dividend and a dividend yield of 1.19%. Thomson Reuters's dividend payout ratio is 49.69%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Securities reaffirmed a "hold" rating on shares of Thomson Reuters in a research note on Tuesday, July 15th. Wall Street Zen cut shares of Thomson Reuters from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Wells Fargo & Company upped their price objective on shares of Thomson Reuters from $187.00 to $213.00 and gave the company an "equal weight" rating in a research note on Monday, June 16th. CIBC upped their price objective on shares of Thomson Reuters from $174.00 to $201.00 and gave the company an "outperformer" rating in a research note on Monday, July 21st. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Thomson Reuters currently has an average rating of "Hold" and an average target price of $193.00.

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.