American Century Companies Inc. Cuts Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

American Century Companies Inc. trimmed its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,697 shares of the business services provider’s stock after selling 264 shares during the quarter. American Century Companies Inc.’s holdings in Thomson Reuters were worth $3,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of TRI. Andra AP fonden bought a new stake in Thomson Reuters in the 2nd quarter valued at about $6,487,000. Choreo LLC bought a new stake in Thomson Reuters in the 2nd quarter valued at about $1,191,000. Ashton Thomas Private Wealth LLC bought a new stake in Thomson Reuters in the 2nd quarter valued at about $73,000. Triasima Portfolio Management inc. raised its stake in Thomson Reuters by 17.0% in the 2nd quarter. Triasima Portfolio Management inc. now owns 207,167 shares of the business services provider’s stock valued at $34,905,000 after acquiring an additional 30,026 shares during the period. Finally, Ballentine Partners LLC raised its stake in Thomson Reuters by 3.2% in the 2nd quarter. Ballentine Partners LLC now owns 2,933 shares of the business services provider’s stock valued at $494,000 after acquiring an additional 90 shares during the period. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Stock Down 0.7 %

Shares of TRI opened at $171.25 on Friday. The stock has a market capitalization of $77.01 billion, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 5.79 and a beta of 0.73. Thomson Reuters Co. has a 1 year low of $117.46 and a 1 year high of $176.03. The business’s 50 day simple moving average is $165.93 and its 200-day simple moving average is $163.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88.

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, topping 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 business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the firm earned $0.84 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities analysts expect that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.146 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s payout ratio is 41.14%.

Analyst Ratings Changes

TRI has been the topic of several analyst reports. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Royal Bank of Canada decreased their price target on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Scotiabank upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $164.00 to $182.00 in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. upped their price target on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Thomson Reuters has an average rating of “Hold” and a consensus price target of $173.45.

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.