Envestnet Asset Management Inc. Decreases Stock Position in Thomson Reuters Co. (NYSE:TRI)

Envestnet Asset Management Inc. cut its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 446,403 shares of the business services provider’s stock after selling 14,177 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Thomson Reuters worth $75,249,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its holdings in Thomson Reuters by 1.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,990 shares of the business services provider’s stock valued at $622,000 after purchasing an additional 70 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Thomson Reuters by 1.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock valued at $1,252,000 after purchasing an additional 74 shares during the period. Sivia Capital Partners LLC boosted its holdings in Thomson Reuters by 4.8% in the second quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock valued at $277,000 after purchasing an additional 75 shares during the period. Avitas Wealth Management LLC boosted its holdings in Thomson Reuters by 0.4% in the second quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock valued at $3,508,000 after purchasing an additional 79 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Thomson Reuters by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after buying an additional 80 shares during the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $168.02 on Wednesday. The stock has a market capitalization of $75.54 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 6.19 and a beta of 0.73. Thomson Reuters Co. has a 52-week low of $117.46 and a 52-week high of $176.03. The stock’s 50-day moving average price is $165.26 and its 200 day moving average price is $163.39. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results 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. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. As a group, equities research analysts forecast that Thomson Reuters Co. will post 3.72 EPS for the current year.

Thomson Reuters Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.146 per share. 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 41.14%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRI. Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $164.00 to $182.00 in a report on Tuesday, August 27th. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. JPMorgan Chase & Co. lifted 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. Finally, Royal Bank of Canada cut their target price 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. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Thomson Reuters currently has a consensus rating of “Hold” and an average target price 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.