Raymond James & Associates Sells 1,699 Shares of Thomson Reuters Co. (NYSE:TRI)

Raymond James & Associates trimmed its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,899 shares of the business services provider’s stock after selling 1,699 shares during the quarter. Raymond James & Associates’ holdings in Thomson Reuters were worth $11,072,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TRI. Wealth Enhancement Advisory Services LLC grew its position in Thomson Reuters by 16.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,356 shares of the business services provider’s stock worth $1,146,000 after buying an additional 1,027 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Thomson Reuters by 12.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 834 shares of the business services provider’s stock worth $130,000 after purchasing an additional 90 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of Thomson Reuters during the first quarter valued at approximately $946,000. Norden Group LLC acquired a new position in shares of Thomson Reuters in the first quarter valued at $3,013,000. Finally, First Trust Direct Indexing L.P. lifted its position in Thomson Reuters by 7.0% in the first quarter. First Trust Direct Indexing L.P. now owns 4,496 shares of the business services provider’s stock worth $701,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

TRI has been the topic of several analyst reports. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $164.00 to $182.00 in a report on Tuesday, August 27th. JPMorgan Chase & Co. upped their target price on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price target on shares of Thomson Reuters from $168.00 to $171.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Finally, National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $173.73.

Thomson Reuters Stock Performance

NYSE:TRI opened at $166.44 on Tuesday. The stock has a market capitalization of $74.83 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 5.54 and a beta of 0.73. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. Thomson Reuters Co. has a 1 year low of $118.54 and a 1 year high of $176.03. The firm has a 50 day moving average of $168.83 and a 200-day moving average of $166.00.

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 the consensus estimate of $0.82 by $0.03. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Thomson Reuters Co. will post 3.71 EPS for the current fiscal year.

Thomson Reuters Cuts Dividend

The business 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 annualized dividend and a yield of 0.35%. The ex-dividend date was Thursday, August 15th. Thomson Reuters’s payout ratio is presently 41.14%.

Thomson Reuters 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.