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

Axxcess Wealth Management LLC cut its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 3.3% in the 1st quarter, HoldingsChannel reports. The fund owned 7,685 shares of the business services provider’s stock after selling 265 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Thomson Reuters were worth $1,198,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Thomson Reuters by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider’s stock worth $894,442,000 after buying an additional 41,680 shares during the period. FIL Ltd lifted its holdings in Thomson Reuters by 9.8% in the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after buying an additional 445,444 shares during the period. TD Asset Management Inc lifted its holdings in Thomson Reuters by 7.9% in the 1st quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider’s stock worth $630,534,000 after buying an additional 295,301 shares during the period. 1832 Asset Management L.P. lifted its holdings 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 buying an additional 13,747 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Thomson Reuters by 3.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,333,533 shares of the business services provider’s stock worth $207,804,000 after buying an additional 50,367 shares during the period. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Stock Down 0.4 %

TRI stock traded down $0.64 on Friday, reaching $161.70. 760,810 shares of the company traded hands, compared to its average volume of 475,352. Thomson Reuters Co. has a one year low of $117.46 and a one year high of $176.03. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $72.71 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 6.20 and a beta of 0.72. The firm has a fifty day simple moving average of $168.21 and a 200-day simple moving average of $159.86.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted 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. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. Research analysts anticipate that Thomson Reuters Co. will post 3.67 earnings per share for the current year.

Thomson Reuters Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Wednesday, May 15th. Thomson Reuters’s payout ratio is 40.57%.

Analysts Set New Price Targets

Several research firms have weighed in on TRI. Royal Bank of Canada increased their price objective on Thomson Reuters from $153.00 to $156.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 30th. UBS Group increased their price objective on Thomson Reuters from $177.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Canaccord Genuity Group raised their target price on Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Canaccord Genuity Group raised their target price on Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, National Bank Financial upgraded Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, April 23rd. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $170.64.

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.