Thomson Reuters Co. (NYSE:TRI) Position Reduced by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC decreased its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 12,469 shares of the business services provider’s stock after selling 216 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Thomson Reuters were worth $1,943,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Thomson Reuters by 25.7% in the fourth quarter. Fifth Third Bancorp now owns 382 shares of the business services provider’s stock worth $56,000 after buying an additional 78 shares during the last quarter. Gulf International Bank UK Ltd grew its position in Thomson Reuters by 5.8% in the first quarter. Gulf International Bank UK Ltd now owns 1,541 shares of the business services provider’s stock worth $239,000 after buying an additional 85 shares during the last quarter. Hexagon Capital Partners LLC grew its position in Thomson Reuters by 12.1% in the first quarter. Hexagon Capital Partners LLC now owns 834 shares of the business services provider’s stock worth $130,000 after buying an additional 90 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Thomson Reuters by 0.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 12,979 shares of the business services provider’s stock worth $1,898,000 after buying an additional 100 shares during the last quarter. Finally, Vise Technologies Inc. grew its position in Thomson Reuters by 2.0% in the fourth quarter. Vise Technologies Inc. now owns 5,428 shares of the business services provider’s stock worth $794,000 after buying an additional 107 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TRI shares. Scotiabank lifted their price target on shares of Thomson Reuters from $159.00 to $164.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. UBS Group lifted their price objective on shares of Thomson Reuters from $177.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Canaccord Genuity Group lifted their price objective on shares of Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Canaccord Genuity Group lifted their price objective on shares of Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, CIBC lifted their target price on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $170.64.

Thomson Reuters Stock Up 0.0 %

Shares of TRI stock traded up $0.05 on Thursday, hitting $168.40. The company’s stock had a trading volume of 370,608 shares, compared to its average volume of 411,367. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. Thomson Reuters Co. has a fifty-two week low of $117.46 and a fifty-two week high of $176.03. The firm’s fifty day moving average price is $167.56 and its 200-day moving average price is $157.44. The stock has a market capitalization of $75.72 billion, a price-to-earnings ratio of 32.08, a P/E/G ratio of 6.43 and a beta of 0.72.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business earned $0.85 EPS. Thomson Reuters’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts anticipate that Thomson Reuters Co. will post 3.67 EPS for the current year.

Thomson Reuters Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Wednesday, May 15th. Thomson Reuters’s dividend payout ratio is 40.57%.

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.