Sentry Investment Management LLC Trims Stock Position in Thomson Reuters Co. (NYSE:TRI)

Sentry Investment Management LLC lowered its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 17.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,733 shares of the business services provider’s stock after selling 560 shares during the period. Sentry Investment Management LLC’s holdings in Thomson Reuters were worth $461,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Thomson Reuters by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider’s stock worth $894,442,000 after buying an additional 41,680 shares during the last quarter. FIL Ltd raised its holdings in shares of Thomson Reuters by 9.8% during the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after buying an additional 445,444 shares during the period. TD Asset Management Inc lifted its holdings in Thomson Reuters by 0.7% in the 2nd quarter. TD Asset Management Inc now owns 4,074,256 shares of the business services provider’s stock worth $686,640,000 after buying an additional 26,483 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of Thomson Reuters by 0.8% in the 4th quarter. 1832 Asset Management L.P. now owns 1,783,086 shares of the business services provider’s stock valued at $260,723,000 after purchasing an additional 13,747 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Thomson Reuters by 3.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,333,533 shares of the business services provider’s stock valued at $207,804,000 after acquiring an additional 50,367 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Trading Up 1.7 %

Shares of TRI opened at $171.55 on Wednesday. The firm has a market capitalization of $77.15 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 5.92 and a beta of 0.73. The company has a quick ratio of 0.88, a current 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. The stock’s fifty day simple moving average is $164.89 and its 200-day simple moving average is $162.90.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 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 analyst estimates of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. As a group, research analysts predict that Thomson Reuters Co. will post 3.72 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s payout ratio is presently 41.14%.

Analyst Ratings Changes

TRI has been the subject of a number of analyst reports. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday. Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $164.00 to $182.00 in a report on Tuesday, August 27th. JPMorgan Chase & Co. upped their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada lowered their price objective on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $173.45.

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.