Envestnet Asset Management Inc. Decreases Position in Thomson Reuters Co. (NYSE:TRI)

Envestnet Asset Management Inc. decreased its position in shares of Thomson Reuters Co. (NYSE:TRIFree Report) (TSE:TRI) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 459,488 shares of the business services provider’s stock after selling 86,634 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Thomson Reuters were worth $67,228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its position in Thomson Reuters by 26.3% in the 3rd quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after buying an additional 1,179,155 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Thomson Reuters by 6.2% during the third quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock valued at $500,872,000 after purchasing an additional 240,148 shares during the last quarter. TD Asset Management Inc lifted its position in Thomson Reuters by 30.8% during the fourth quarter. TD Asset Management Inc now owns 3,752,472 shares of the business services provider’s stock valued at $551,317,000 after purchasing an additional 884,572 shares during the period. 1832 Asset Management L.P. grew its position in 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 worth $260,723,000 after purchasing an additional 13,747 shares during the period. Finally, Bank of Nova Scotia purchased a new stake in Thomson Reuters during the 3rd quarter valued at $170,036,000. Institutional investors own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

TRI has been the subject of several research analyst reports. Barclays raised Thomson Reuters from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $150.00 to $180.00 in a report on Thursday, March 14th. JPMorgan Chase & Co. boosted their price target on Thomson Reuters from $152.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Canaccord Genuity Group increased their price objective on shares of Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. UBS Group raised their price objective 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. Finally, CIBC upped their target price on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a report 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. According to MarketBeat.com, Thomson Reuters currently has a consensus rating of “Hold” and an average price target of $168.42.

Read Our Latest Report on TRI

Thomson Reuters Stock Up 0.0 %

Shares of TRI stock opened at $170.78 on Tuesday. 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 one year low of $117.46 and a one year high of $176.03. The company’s fifty day moving average price is $162.39 and its 200-day moving average price is $154.33. The company has a market capitalization of $76.95 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 6.52 and a beta of 0.71.

Thomson Reuters (NYSE:TRIGet Free Report) (TSE:TRI) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. The business’s quarterly 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. Sell-side analysts expect that Thomson Reuters Co. will post 3.67 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were paid a $0.54 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $2.16 annualized dividend and a yield of 1.26%. Thomson Reuters’s payout ratio is 40.57%.

Thomson Reuters Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Thomson Reuters (NYSE:TRI)

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