Thomson Reuters Corp $TRI Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its Thomson Reuters stake by 3.2% in the second quarter, selling 11,023 shares and retaining 331,421 shares valued at approximately $27.1 million.
• Institutional interest was mixed but generally supportive, with several large investors increasing their positions; institutions and hedge funds collectively own 17.31% of Thomson Reuters.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $131.57. The company recently beat quarterly EPS and revenue estimates, reported 9.5% year-over-year revenue growth, and pays a $2.62 annualized dividend yielding about 2.7%.

Envestnet Asset Management Inc. reduced its holdings in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 331,421 shares of the company's stock after selling 11,023 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Thomson Reuters worth $27,067,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc raised its stake in Thomson Reuters by 0.7% during the 4th quarter. TD Asset Management Inc now owns 4,664,372 shares of the company's stock valued at $616,342,000 after acquiring an additional 33,418 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Thomson Reuters by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 2,224,706 shares of the company's stock valued at $297,536,000 after purchasing an additional 76,800 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Thomson Reuters by 17.7% in the fourth quarter. CIBC Asset Management Inc now owns 1,607,468 shares of the company's stock valued at $212,493,000 after purchasing an additional 242,214 shares during the period. Norges Bank acquired a new position in shares of Thomson Reuters in the fourth quarter valued at approximately $153,417,000. Finally, Bank of America Corp DE raised its stake in shares of Thomson Reuters by 48.7% during the first quarter. Bank of America Corp DE now owns 1,627,069 shares of the company's stock worth $146,404,000 after purchasing an additional 532,803 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company set a $85.00 price target on Thomson Reuters and gave the stock an "equal weight" rating in a report on Tuesday, June 30th. Weiss Ratings raised shares of Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 24th. Canaccord Genuity Group cut their price objective on shares of Thomson Reuters from $134.00 to $132.50 and set a "buy" rating for the company in a research report on Thursday, August 6th. Scotia reduced their target price on shares of Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 6th. Finally, Barclays lowered their target price on shares of Thomson Reuters from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Thomson Reuters has a consensus rating of "Moderate Buy" and an average target price of $131.57.

Thomson Reuters Price Performance

Shares of NASDAQ:TRI opened at $97.33 on Tuesday. The stock has a market cap of $42.17 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 1.90 and a beta of 0.74. The business's fifty day moving average price is $101.10 and its two-hundred day moving average price is $93.19. Thomson Reuters Corp has a one year low of $76.28 and a one year high of $164.30. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. On average, analysts forecast that Thomson Reuters Corp will post 4.48 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.6550 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Thomson Reuters's dividend payout ratio is currently 69.68%.

About Thomson Reuters

Thomson Reuters Corporation is a global provider of information, software, and technology solutions for professionals and institutions. Its products and services support legal professionals, corporations, tax and accounting firms, governments, and media organizations, helping customers manage regulatory requirements, research information, analyze data, and improve workflow efficiency.

The company's offerings include legal research and practice-management solutions, tax and accounting software, corporate compliance and risk-management tools, and products designed for government and regulatory users.

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