Thomson Reuters Co. (NYSE:TRI) Holdings Lowered by Raymond James & Associates

Raymond James & Associates decreased its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 2.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,899 shares of the business services provider’s stock after selling 1,699 shares during the quarter. Raymond James & Associates’ holdings in Thomson Reuters were worth $11,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TRI. TD Asset Management Inc raised its stake in Thomson Reuters by 7.9% during the 1st quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider’s stock valued at $630,534,000 after purchasing an additional 295,301 shares during the period. Cibc World Market Inc. raised its position in Thomson Reuters by 26.3% during the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock valued at $223,525,000 after buying an additional 276,206 shares during the period. MUFG Securities EMEA plc acquired a new position in Thomson Reuters during the second quarter valued at $45,514,000. Toronto Dominion Bank lifted its stake in Thomson Reuters by 87.1% in the 2nd quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock worth $85,136,000 after acquiring an additional 235,145 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Thomson Reuters by 179.5% during the 2nd quarter. Millennium Management LLC now owns 243,524 shares of the business services provider’s stock worth $41,033,000 after acquiring an additional 156,410 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. Royal Bank of Canada increased their target price on shares of Thomson Reuters from $168.00 to $171.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. increased their price objective on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Thomson Reuters currently has an average rating of “Hold” and a consensus price target of $173.73.

Thomson Reuters Trading Up 1.0 %

Thomson Reuters stock opened at $166.44 on Tuesday. Thomson Reuters Co. has a one year low of $118.54 and a one year high of $176.03. The company’s fifty day moving average price is $168.83 and its two-hundred day moving average price is $166.00. The company has a market capitalization of $74.83 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 5.54 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data 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. 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 firm’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. On average, analysts forecast that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a dividend of $0.146 per share. This represents a $0.58 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Thursday, August 15th. Thomson Reuters’s dividend payout ratio is currently 41.14%.

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.