E Fund Management Co. Ltd. Lowers Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

E Fund Management Co. Ltd. lowered its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 38.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,349 shares of the business services provider’s stock after selling 1,452 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Thomson Reuters were worth $396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in Thomson Reuters in the fourth quarter valued at about $48,000. Dimensional Fund Advisors LP lifted its position in Thomson Reuters by 52.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 158,203 shares of the business services provider’s stock valued at $23,132,000 after purchasing an additional 54,140 shares during the period. Avantax Advisory Services Inc. acquired a new stake in Thomson Reuters in the fourth quarter valued at about $244,000. Janney Montgomery Scott LLC lifted its position in Thomson Reuters by 7.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,029 shares of the business services provider’s stock valued at $882,000 after purchasing an additional 418 shares during the period. Finally, TrinityPoint Wealth LLC acquired a new stake in Thomson Reuters in the fourth quarter valued at about $202,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on TRI shares. Royal Bank of Canada reduced their price objective on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Finally, Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $164.00 to $182.00 in a research report on Tuesday, August 27th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Thomson Reuters presently has a consensus rating of “Hold” and an average target price of $173.45.

Thomson Reuters Trading Up 0.1 %

Shares of Thomson Reuters stock opened at $168.25 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88. Thomson Reuters Co. has a 1 year low of $117.46 and a 1 year high of $176.03. The company has a market capitalization of $75.66 billion, a P/E ratio of 32.05, a P/E/G ratio of 5.82 and a beta of 0.73. The business has a 50 day moving average price of $165.27 and a 200 day moving average price of $163.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Thomson Reuters Co. will post 3.71 EPS for the current fiscal year.

Thomson Reuters Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $0.146 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.35%. Thomson Reuters’s payout ratio is currently 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.