American Trust Reduces Position in Thomson Reuters Co. (NYSE:TRI)

American Trust lowered its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 14.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,309 shares of the business services provider’s stock after selling 226 shares during the period. American Trust’s holdings in Thomson Reuters were worth $204,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TRI. Assenagon Asset Management S.A. raised its position in shares of Thomson Reuters by 21.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,920 shares of the business services provider’s stock valued at $576,000 after buying an additional 692 shares in the last quarter. Fifth Third Bancorp grew its stake in Thomson Reuters by 25.7% in the 4th quarter. Fifth Third Bancorp now owns 382 shares of the business services provider’s stock worth $56,000 after acquiring an additional 78 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Thomson Reuters during the fourth quarter valued at approximately $11,438,000. Allworth Financial LP boosted its stake in shares of Thomson Reuters by 119.0% during the fourth quarter. Allworth Financial LP now owns 473 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 257 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new position in shares of Thomson Reuters during the fourth quarter valued at approximately $2,954,000. Institutional investors own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TRI. UBS Group raised their price target on shares of Thomson Reuters from $177.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. National Bank Financial raised shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a report on Tuesday, April 23rd. Canaccord Genuity Group lifted their target price on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Scotiabank boosted 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. Finally, CIBC lifted their target price on shares of Thomson Reuters from $152.00 to $156.00 and gave the stock 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 assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $171.82.

Thomson Reuters Stock Down 0.9 %

NYSE TRI traded down $1.44 on Friday, hitting $157.43. 519,024 shares of the stock were exchanged, compared to its average volume of 606,982. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. Thomson Reuters Co. has a fifty-two week low of $117.46 and a fifty-two week high of $176.03. The company has a market cap of $70.79 billion, a PE ratio of 29.99, a PEG ratio of 6.02 and a beta of 0.72. The company has a 50-day moving average price of $166.92 and a 200-day moving average price of $160.49.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.40%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that Thomson Reuters Co. will post 3.7 EPS for the current fiscal year.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $0.146 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.37%. Thomson Reuters’s dividend payout ratio (DPR) is 41.14%.

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.