UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Lowers Stock Holdings in 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 lowered its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 358,315 shares of the business services provider's stock after selling 5,518 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.08% of Thomson Reuters worth $61,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of TRI. Mackenzie Financial Corp lifted its stake in shares of Thomson Reuters by 139.5% during the fourth quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock worth $1,370,564,000 after purchasing an additional 4,977,006 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Thomson Reuters by 15.7% in the first quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock worth $951,477,000 after acquiring an additional 750,063 shares in the last quarter. Millennium Management LLC raised its stake in Thomson Reuters by 365.6% during the first quarter. Millennium Management LLC now owns 894,074 shares of the business services provider's stock valued at $154,475,000 after buying an additional 702,036 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Thomson Reuters by 36.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,588,508 shares of the business services provider's stock valued at $274,462,000 after buying an additional 421,279 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Thomson Reuters by 97.9% during the first quarter. Canada Pension Plan Investment Board now owns 414,960 shares of the business services provider's stock valued at $71,620,000 after buying an additional 205,306 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $172.99 on Monday. Thomson Reuters Co. has a 12-month low of $151.60 and a 12-month high of $218.42. The firm has a market capitalization of $77.96 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. The business has a 50 day simple moving average of $187.80 and a 200 day simple moving average of $185.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94.

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

Thomson Reuters Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Thomson Reuters's dividend payout ratio (DPR) is presently 65.75%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TRI shares. Wells Fargo & Company upgraded Thomson Reuters from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $187.00 to $212.00 in a research note on Tuesday, September 9th. Morgan Stanley cut their price objective on Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating on the stock in a research note on Thursday. National Bankshares restated an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. TD Securities upgraded Thomson Reuters from a "hold" rating to a "buy" rating and upped their price objective for the company from $275.00 to $285.00 in a research note on Thursday, August 28th. Finally, Scotiabank upgraded Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $188.00 to $200.00 in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $202.82.

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.

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