Thomson Reuters Co. (NYSE:TRI) Stock Holdings Lowered by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 61.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,932 shares of the business services provider’s stock after selling 4,753 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Thomson Reuters were worth $494,000 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. Janus Henderson Group PLC increased its position in shares of Thomson Reuters by 23.8% in the first quarter. Janus Henderson Group PLC now owns 16,770 shares of the business services provider’s stock worth $2,612,000 after acquiring an additional 3,223 shares in the last quarter. FIL Ltd increased its position in shares of Thomson Reuters by 9.8% in the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after acquiring an additional 445,444 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Thomson Reuters by 11.4% in the fourth quarter. CIBC Asset Management Inc now owns 581,703 shares of the business services provider’s stock worth $85,320,000 after acquiring an additional 59,388 shares in the last quarter. Gillson Capital LP purchased a new position in shares of Thomson Reuters in the fourth quarter worth approximately $15,063,000. Finally, Bessemer Group Inc. increased its position in shares of Thomson Reuters by 874.0% in the first quarter. Bessemer Group Inc. now owns 130,744 shares of the business services provider’s stock worth $20,351,000 after acquiring an additional 117,320 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Price Performance

NYSE TRI opened at $169.51 on Friday. 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 capitalization of $76.23 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 5.82 and a beta of 0.73. The company has a 50 day moving average price of $165.46 and a two-hundred day moving average price of $163.55. Thomson Reuters Co. has a 12-month low of $117.46 and a 12-month high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results 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. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. As a group, equities analysts predict that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal 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 paid a $0.146 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s dividend payout ratio (DPR) is presently 41.14%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRI. 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. Royal Bank of Canada dropped their target price on shares of 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 raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $173.45.

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.