Thomson Reuters Corp $TRI Shares Sold by RFG Advisory LLC

Key Points

• RFG Advisory LLC cut its Thomson Reuters position by 58.5% in the second quarter, selling 15,535 shares and retaining 11,000 shares valued at approximately $898,000. Institutional investors and hedge funds collectively own 17.31% of the company.
• Analysts maintain a generally positive outlook, with Thomson Reuters receiving a consensus “Moderate Buy” rating and an average price target of $131.57, despite several recent target-price reductions.
• Thomson Reuters reported quarterly EPS of $0.99, beating estimates, while revenue rose 9.5% year over year to $1.93 billion. The company also paid a quarterly dividend of $0.655 per share, representing a 2.7% yield.

RFG Advisory LLC decreased its position in Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 58.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,000 shares of the company's stock after selling 15,535 shares during the period. RFG Advisory LLC's holdings in Thomson Reuters were worth $898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Sector Pension Investment Board lifted its position in Thomson Reuters by 0.8% in the second quarter. Public Sector Pension Investment Board now owns 13,098 shares of the company's stock valued at $2,629,000 after purchasing an additional 100 shares during the period. Natixis Advisors LLC increased its position in Thomson Reuters by 0.6% during the 3rd quarter. Natixis Advisors LLC now owns 16,424 shares of the company's stock worth $2,551,000 after purchasing an additional 103 shares during the period. PNC Financial Services Group Inc. increased its position in Thomson Reuters by 1.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,834 shares of the company's stock worth $885,000 after purchasing an additional 130 shares during the period. Kestra Advisory Services LLC raised its stake in shares of Thomson Reuters by 1.4% during the 1st quarter. Kestra Advisory Services LLC now owns 9,682 shares of the company's stock worth $871,000 after buying an additional 134 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in shares of Thomson Reuters by 1.7% during the 4th quarter. Royal London Asset Management Ltd. now owns 8,037 shares of the company's stock worth $1,060,000 after buying an additional 134 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRI has been the topic of a number of analyst reports. Weiss Ratings upgraded Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 24th. Scotia cut their price objective on Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating for the company in a research report on Thursday, August 6th. Scotiabank reissued a "sector outperform" rating and issued a $135.00 target price on shares of Thomson Reuters in a report on Thursday, August 6th. Wells Fargo & Company set a $85.00 target price on shares of Thomson Reuters and gave the stock an "equal weight" rating in a research report on Tuesday, June 30th. Finally, Barclays decreased their target price on shares of Thomson Reuters from $140.00 to $130.00 and set an "overweight" rating on the stock in a research 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 issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $131.57.

Thomson Reuters Price Performance

Shares of NASDAQ:TRI opened at $97.35 on Friday. The firm has a market capitalization of $42.41 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.86 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51. The business's 50 day simple moving average is $99.67 and its 200-day simple moving average is $93.53. Thomson Reuters Corp has a 12 month low of $76.28 and a 12 month high of $173.79.

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

Thomson Reuters Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Thomson Reuters's payout ratio is 69.68%.

Thomson Reuters Profile

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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