Thomson Reuters Co. (NYSE:TRI) Position Decreased by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd decreased its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,589,198 shares of the business services provider’s stock after selling 134,957 shares during the period. Thomson Reuters comprises 3.7% of JARISLOWSKY FRASER Ltd’s portfolio, making the stock its 4th largest holding. JARISLOWSKY FRASER Ltd owned 0.80% of Thomson Reuters worth $604,894,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in Thomson Reuters during the second quarter worth about $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 valued at $28,000 after purchasing an additional 80 shares in the last quarter. Gold Investment Management Ltd. purchased a new stake in shares of Thomson Reuters in the fourth quarter valued at about $41,000. Principal Securities Inc. purchased a new stake in shares of Thomson Reuters in the fourth quarter valued at about $48,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Thomson Reuters in the second quarter valued at about $73,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of TRI stock opened at $168.25 on Thursday. The company has a market capitalization of $75.66 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 5.82 and a beta of 0.73. The firm has a fifty day simple moving average of $165.27 and a 200-day simple moving average of $163.42. 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 twelve month low of $117.46 and a twelve month high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 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 for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that Thomson Reuters Co. will post 3.71 earnings per share 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 paid a dividend of $0.146 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.58 dividend on an annualized basis and a yield of 0.35%. Thomson Reuters’s dividend payout ratio (DPR) is 41.14%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TRI shares. Royal Bank of Canada cut their price objective on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Finally, Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. Eight investment 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.com, the stock has a consensus rating of “Hold” and an average 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.