Thomson Reuters Co. (NYSE:TRI) Stake Lessened by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 12.0% during the fourth quarter, according to 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 quarter. Axxcess Wealth Management LLC’s holdings in Thomson Reuters were worth $1,162,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in shares of Thomson Reuters by 25.7% during the 4th quarter. Fifth Third Bancorp now owns 382 shares of the business services provider’s stock worth $56,000 after buying an additional 78 shares during the period. Legacy Wealth Asset Management LLC increased its position in Thomson Reuters by 0.7% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 12,685 shares of the business services provider’s stock valued at $1,855,000 after acquiring an additional 82 shares in the last quarter. Advisor OS LLC raised its position in Thomson Reuters by 5.2% in the 3rd quarter. Advisor OS LLC now owns 1,730 shares of the business services provider’s stock worth $212,000 after purchasing an additional 86 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Thomson Reuters by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 7,331 shares of the business services provider’s stock valued at $897,000 after acquiring an additional 93 shares during the period. Finally, Financial Advocates Investment Management lifted its position in Thomson Reuters by 3.7% during the 3rd quarter. Financial Advocates Investment Management now owns 2,771 shares of the business services provider’s stock valued at $340,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Up 1.1 %

Shares of NYSE TRI opened at $164.74 on Monday. Thomson Reuters Co. has a 12 month low of $117.46 and a 12 month high of $166.11. The firm 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 company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average of $155.38 and a 200-day moving average of $146.67.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company earned $0.85 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Thomson Reuters Co. will post 3.58 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be paid 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 presently 41.14%.

Wall Street Analysts Forecast Growth

TRI has been the subject of several recent analyst reports. 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 research note on Friday. Scotiabank raised their price objective on Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a research report on Friday. National Bank Financial upgraded shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, April 23rd. TD Securities upped their price target on shares of Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, March 13th. Finally, Barclays raised Thomson Reuters from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $150.00 to $180.00 in a report on Thursday, March 14th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Thomson Reuters presently has an average rating of “Hold” and an average target price of $164.31.

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.