B. Riley Wealth Advisors Inc. Reduces Stake in Thomson Reuters Co. (NYSE:TRI)

B. Riley Wealth Advisors Inc. lowered its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,031 shares of the business services provider’s stock after selling 307 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Thomson Reuters were worth $848,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TRI. Goldman Sachs Group Inc. boosted its position in shares of Thomson Reuters by 53.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 969,443 shares of the business services provider’s stock valued at $141,752,000 after buying an additional 338,896 shares during the period. CenterBook Partners LP purchased a new stake in shares of Thomson Reuters in the fourth quarter valued at approximately $1,050,000. Ossiam boosted its holdings in shares of Thomson Reuters by 39.0% in the fourth quarter. Ossiam now owns 12,049 shares of the business services provider’s stock valued at $1,770,000 after purchasing an additional 3,379 shares during the period. State of Tennessee Treasury Department boosted its holdings in shares of Thomson Reuters by 2.6% in the fourth quarter. State of Tennessee Treasury Department now owns 233,137 shares of the business services provider’s stock valued at $34,253,000 after purchasing an additional 5,990 shares during the period. Finally, Barometer Capital Management Inc. boosted its holdings in shares of Thomson Reuters by 10,058.7% in the fourth quarter. Barometer Capital Management Inc. now owns 12,800 shares of the business services provider’s stock valued at $1,872,000 after purchasing an additional 12,674 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

TRI has been the subject of a number of research reports. Scotiabank upgraded 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. boosted their price target on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada lowered their price target on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Finally, National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $173.45.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $165.96 on Friday. The business’s fifty day simple moving average is $166.80 and its 200-day simple moving average is $164.46. The company has a market cap of $74.62 billion, a PE ratio of 31.61, a PEG ratio of 5.74 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 12-month low of $117.46 and a 12-month high of $176.03.

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, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. Analysts expect that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The firm 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 0.35%. The ex-dividend date was Thursday, August 15th. Thomson Reuters’s payout ratio is presently 41.14%.

About Thomson Reuters

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.