Legacy Wealth Asset Management LLC Reduces Stock Position in Thomson Reuters Co. (NYSE:TRI)

Legacy Wealth Asset Management LLC cut its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,350 shares of the business services provider’s stock after selling 236 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Thomson Reuters were worth $2,107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of TRI. Janus Henderson Group PLC grew its position in Thomson Reuters by 23.8% during the first quarter. Janus Henderson Group PLC now owns 16,770 shares of the business services provider’s stock worth $2,612,000 after buying an additional 3,223 shares in the last quarter. Bessemer Group Inc. raised its stake in Thomson Reuters by 874.0% in the first quarter. Bessemer Group Inc. now owns 130,744 shares of the business services provider’s stock valued at $20,351,000 after purchasing an additional 117,320 shares in the last quarter. &PARTNERS bought a new stake in Thomson Reuters during the second quarter valued at approximately $278,000. Quantbot Technologies LP purchased a new position in Thomson Reuters in the 1st quarter worth approximately $610,000. Finally, Forsta AP Fonden increased its holdings in shares of Thomson Reuters by 151.2% in the 1st quarter. Forsta AP Fonden now owns 78,588 shares of the business services provider’s stock worth $12,242,000 after buying an additional 47,300 shares during the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Stock Down 0.9 %

TRI stock opened at $164.84 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $74.12 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 5.61 and a beta of 0.73. The business’s 50 day moving average price is $168.75 and its two-hundred day moving average price is $165.67. Thomson Reuters Co. has a fifty-two week low of $117.46 and a fifty-two week 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, 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 during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the company posted $0.84 EPS. Thomson Reuters’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 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

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

Analyst Upgrades and Downgrades

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

Thomson Reuters 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.