MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 2,628 Shares of Thomson Reuters Co. $TRI

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has reduced its stake in Thomson Reuters by 1.4%, now holding 180,996 shares valued at approximately $31.27 million.
• Analyst ratings for Thomson Reuters vary, with some firms lowering their target prices while others have upgraded their ratings, resulting in an average rating of "Moderate Buy" with a target price of $201.90.
• Thomson Reuters recently reported earnings of $0.87 per share, exceeding estimates, alongside a declared quarterly dividend of $0.595 per share, reflecting a 1.4% yield.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 1.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,996 shares of the business services provider's stock after selling 2,628 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Thomson Reuters were worth $31,265,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in Thomson Reuters in the first quarter worth approximately $626,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Thomson Reuters by 7.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,277 shares of the business services provider's stock worth $1,948,000 after buying an additional 776 shares during the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of Thomson Reuters by 2,723.3% in the first quarter. Gulf International Bank UK Ltd now owns 8,978 shares of the business services provider's stock worth $1,551,000 after buying an additional 8,660 shares during the last quarter. Callan Capital LLC acquired a new stake in shares of Thomson Reuters in the first quarter worth $244,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Thomson Reuters by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 33,663 shares of the business services provider's stock worth $5,683,000 after buying an additional 313 shares during the last quarter. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Price Performance

Shares of TRI stock traded down $0.85 during mid-day trading on Friday, reaching $172.66. The company's stock had a trading volume of 184,809 shares, compared to its average volume of 893,874. Thomson Reuters Co. has a 1-year low of $151.60 and a 1-year high of $218.42. The company has a market cap of $77.82 billion, a P/E ratio of 35.31, a PEG ratio of 5.67 and a beta of 0.74. 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 firm's 50-day moving average is $188.35 and its two-hundred day moving average is $185.44.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The business's revenue was up 2.6% on a year-over-year basis. On average, research analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $0.595 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $2.38 annualized dividend and a dividend yield of 1.4%. Thomson Reuters's dividend payout ratio is presently 65.75%.

Wall Street Analysts Forecast Growth

TRI has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating for the company in a research note on Thursday. TD Securities upgraded shares of Thomson Reuters from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $275.00 to $285.00 in a research note on Thursday, August 28th. National Bankshares restated an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. Royal Bank Of Canada reduced their price objective on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group upped their target price on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $202.82.

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.