Legacy Wealth Asset Management LLC Lowers Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Legacy Wealth Asset Management LLC cut its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,469 shares of the business services provider’s stock after selling 216 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Thomson Reuters were worth $1,943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Thomson Reuters in the fourth quarter valued at $11,438,000. Quotient Wealth Partners LLC purchased a new position in Thomson Reuters in the fourth quarter valued at $957,000. FIL Ltd boosted its holdings in Thomson Reuters by 9.8% in the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after purchasing an additional 445,444 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in Thomson Reuters in the fourth quarter valued at $2,954,000. Finally, CIBC Asset Management Inc boosted its holdings in Thomson Reuters by 11.4% in the fourth quarter. CIBC Asset Management Inc now owns 581,703 shares of the business services provider’s stock valued at $85,320,000 after purchasing an additional 59,388 shares during the period. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TRI shares. CIBC lifted their target price on Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Barclays upgraded Thomson Reuters from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $150.00 to $180.00 in a research note on Thursday, March 14th. Canaccord Genuity Group raised their price target on Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Scotiabank raised their price target on Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on Thomson Reuters from $152.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $170.64.

Thomson Reuters Stock Performance

TRI stock traded up $0.05 during trading on Thursday, hitting $168.40. The company had a trading volume of 370,608 shares, compared to its average volume of 411,367. The firm has a market cap of $75.72 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 6.43 and a beta of 0.72. Thomson Reuters Co. has a 1-year low of $117.46 and a 1-year high of $176.03. The firm has a 50-day moving average price of $167.56 and a 200-day moving average price of $157.44. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.17. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, analysts expect that Thomson Reuters Co. will post 3.67 earnings per share for the current year.

Thomson Reuters Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Wednesday, May 15th. Thomson Reuters’s dividend payout ratio (DPR) is presently 40.57%.

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.