Sequoia Financial Advisors LLC Sells 145 Shares of Thomson Reuters Co. (NYSE:TRI)

Sequoia Financial Advisors LLC cut its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,605 shares of the business services provider’s stock after selling 145 shares during the period. Sequoia Financial Advisors LLC’s holdings in Thomson Reuters were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Blair William & Co. IL lifted its stake in Thomson Reuters by 3.0% in the second quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock valued at $385,000 after buying an additional 66 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Thomson Reuters by 1.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock valued at $1,252,000 after acquiring an additional 74 shares during the period. Sivia Capital Partners LLC boosted its stake in Thomson Reuters by 4.8% during the second quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock worth $277,000 after acquiring an additional 75 shares in the last quarter. Avitas Wealth Management LLC grew 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 worth $3,508,000 after purchasing an additional 79 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in 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. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Price Performance

Shares of NYSE:TRI opened at $164.78 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. The stock has a market cap of $74.09 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 5.61 and a beta of 0.73. The stock’s fifty day simple moving average is $168.78 and its two-hundred day simple moving average is $165.91. Thomson Reuters Co. has a 1-year low of $117.46 and a 1-year high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share 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 company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the firm earned $0.84 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. As a group, analysts forecast that Thomson Reuters Co. will post 3.71 EPS for the current fiscal year.

Thomson Reuters Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a $0.146 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.35%. Thomson Reuters’s payout ratio is presently 41.14%.

Analyst Ratings Changes

A number of research firms have recently issued reports 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. Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $164.00 to $182.00 in a research note on Tuesday, August 27th. JPMorgan Chase & Co. boosted their price objective on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada increased their target price on Thomson Reuters from $168.00 to $171.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Thomson Reuters currently has a consensus rating of “Hold” and a consensus target price of $173.73.

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.