UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 5,518 Shares of Thomson Reuters Co. $TRI

Key Points

• UBS Asset Management lowered its stake in Thomson Reuters Co. by 1.5% during Q1, now holding 358,315 shares valued at approximately $61.9 million.
• Thomson Reuters reported Q2 earnings per share (EPS) of $0.87, exceeding estimates of $0.83, with revenues of $1.81 billion.
• The company declared a quarterly dividend of $0.595 per share, which corresponds to an annualized yield of 1.4% and a payout ratio of 65.75%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 1.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 358,315 shares of the business services provider's stock after selling 5,518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.08% of Thomson Reuters worth $61,910,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. United Services Automobile Association acquired a new stake in shares of Thomson Reuters in the 1st quarter worth approximately $965,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Thomson Reuters during the 1st quarter worth $205,000. Guardian Partners Inc. increased its holdings in shares of Thomson Reuters by 0.5% during the 1st quarter. Guardian Partners Inc. now owns 21,021 shares of the business services provider's stock worth $3,698,000 after buying an additional 109 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Thomson Reuters by 36.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,588,508 shares of the business services provider's stock worth $274,462,000 after buying an additional 421,279 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Thomson Reuters by 365.6% during the 1st quarter. Millennium Management LLC now owns 894,074 shares of the business services provider's stock worth $154,475,000 after buying an additional 702,036 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TRI. Royal Bank Of Canada lowered their price target on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a report on Thursday, August 7th. CIBC upgraded Thomson Reuters from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 19th. Morgan Stanley lowered their price target on Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating for the company in a report on Thursday, September 11th. National Bankshares reiterated an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. Finally, Canaccord Genuity Group raised their target price on Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Thomson Reuters has an average rating of "Moderate Buy" and a consensus target price of $202.82.

Thomson Reuters Stock Up 1.2%

Shares of NYSE:TRI traded up $1.90 during trading on Friday, reaching $162.51. 3,543,516 shares of the company traded hands, compared to its average volume of 928,229. The firm has a fifty day simple moving average of $184.42 and a 200 day simple moving average of $185.03. The firm has a market cap of $73.24 billion, a P/E ratio of 33.23, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. Thomson Reuters Co. has a 1-year low of $151.60 and a 1-year high of $218.42. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

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

Thomson Reuters Dividend Announcement

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

Thomson Reuters Company 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.