Axxcess Wealth Management LLC Trims Holdings in Thomson Reuters Co. (NYSE:TRI)

Axxcess Wealth Management LLC lessened its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,950 shares of the business services provider’s stock after selling 1,087 shares during the period. Axxcess Wealth Management LLC’s holdings in Thomson Reuters were worth $1,162,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TRI. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Thomson Reuters in the 4th quarter worth approximately $313,000. SRS Capital Advisors Inc. boosted its holdings in shares of Thomson Reuters by 78.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 948 shares of the business services provider’s stock worth $139,000 after buying an additional 417 shares during the period. Natixis Advisors L.P. boosted its stake in Thomson Reuters by 3.4% during the 4th quarter. Natixis Advisors L.P. now owns 89,507 shares of the business services provider’s stock valued at $13,087,000 after purchasing an additional 2,953 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of Thomson Reuters by 3.2% in the fourth quarter. First Trust Direct Indexing L.P. now owns 4,200 shares of the business services provider’s stock valued at $614,000 after acquiring an additional 129 shares during the period. Finally, Hexagon Capital Partners LLC grew its position in Thomson Reuters by 69.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 744 shares of the business services provider’s stock worth $109,000 after purchasing an additional 306 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TRI has been the topic of a number of analyst reports. UBS Group upped their target price on shares of Thomson Reuters from $177.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group boosted their target price on shares of Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on Thomson Reuters from $152.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday. TD Securities raised their price target on Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. Finally, Royal Bank of Canada increased their target price on shares of Thomson Reuters from $153.00 to $156.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 30th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $164.31.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $164.74 on Monday. Thomson Reuters Co. has a 52-week low of $117.46 and a 52-week high of $166.11. The stock has a market capitalization of $74.35 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 4.52 and a beta of 0.65. The stock’s 50 day moving average price is $155.38 and its two-hundred day moving average price is $146.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. On average, equities analysts predict that Thomson Reuters Co. will post 3.58 earnings per share for the current year.

Thomson Reuters Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, May 15th. Thomson Reuters’s payout ratio is 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.