Raymond James Financial Services Advisors Inc. Trims Position in Thomson Reuters Corp (NYSE:TRI)

Raymond James Financial Services Advisors Inc. decreased its holdings in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 17.0% during the second quarter, HoldingsChannel reports. The firm owned 14,517 shares of the business services provider’s stock after selling 2,972 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Thomson Reuters were worth $986,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRI. Renaissance Technologies LLC purchased a new position in Thomson Reuters during the 4th quarter valued at about $1,876,000. Bank of New York Mellon Corp increased its position in Thomson Reuters by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 334,174 shares of the business services provider’s stock valued at $23,926,000 after purchasing an additional 4,046 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in Thomson Reuters by 60.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,278 shares of the business services provider’s stock valued at $592,000 after purchasing an additional 3,121 shares during the period. Alliancebernstein L.P. increased its position in Thomson Reuters by 122.7% during the 4th quarter. Alliancebernstein L.P. now owns 143,873 shares of the business services provider’s stock valued at $10,301,000 after purchasing an additional 79,257 shares during the period. Finally, Geode Capital Management LLC increased its position in Thomson Reuters by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 304,971 shares of the business services provider’s stock valued at $21,719,000 after purchasing an additional 36,646 shares during the period. 19.82% of the stock is currently owned by institutional investors and hedge funds.

TRI stock opened at $69.84 on Friday. The firm has a 50 day moving average of $68.20 and a 200 day moving average of $70.90. The stock has a market capitalization of $34.54 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 3.38 and a beta of 0.49. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.29. Thomson Reuters Corp has a 52 week low of $52.23 and a 52 week high of $82.50.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Tuesday, May 5th. The business services provider reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Thomson Reuters had a return on equity of 7.72% and a net margin of 27.99%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. On average, equities research analysts expect that Thomson Reuters Corp will post 1.75 earnings per share for the current year.

A number of research firms have commented on TRI. ValuEngine downgraded shares of Thomson Reuters from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. Zacks Investment Research cut shares of Thomson Reuters from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Royal Bank of Canada raised their price target on shares of Thomson Reuters from $70.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, May 1st. National Bank Financial cut shares of Thomson Reuters from an “outperform” rating to a “sector perform” rating and set a $96.00 price target on the stock. in a report on Wednesday, April 15th. Finally, Scotiabank raised their price target on shares of Thomson Reuters from $71.00 to $72.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Thomson Reuters currently has an average rating of “Hold” and an average price target of $82.00.

Thomson Reuters Company Profile

Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.

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

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