Legacy Wealth Asset Management LLC Sells 236 Shares of Thomson Reuters Co. (NYSE:TRI)

Legacy Wealth Asset Management LLC trimmed its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,350 shares of the business services provider’s stock after selling 236 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Thomson Reuters were worth $2,107,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TRI. Rothschild Investment LLC bought a new position in shares of Thomson Reuters in the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Thomson Reuters by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after acquiring an additional 80 shares during the last quarter. Asset Dedication LLC boosted its stake in shares of Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 130 shares in the last quarter. Clean Yield Group acquired a new stake in Thomson Reuters in the third quarter valued at approximately $42,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Thomson Reuters by 104.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 167 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Price Performance

Shares of TRI opened at $164.84 on Friday. The business’s fifty day moving average is $168.75 and its 200 day moving average is $165.67. Thomson Reuters Co. has a 12-month low of $117.46 and a 12-month high of $176.03. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16. The stock has a market cap of $74.12 billion, a P/E ratio of 31.40, a P/E/G ratio of 5.61 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the company earned $0.84 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a $0.146 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Thursday, August 15th. Thomson Reuters’s payout ratio is 41.14%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TRI. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Royal Bank of Canada raised their price target on shares of Thomson Reuters from $168.00 to $171.00 and gave the company a “sector perform” rating in a research note on Wednesday. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. raised their target price on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $173.73.

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.