Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 39.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 699,893 shares of the business services provider’s stock after selling 454,367 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.14% of Thomson Reuters worth $47,413,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Squar Milner Financial Services LLC lifted its position in Thomson Reuters by 75.2% during the 1st quarter. Squar Milner Financial Services LLC now owns 382 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 164 shares during the period. NEXT Financial Group Inc lifted its position in Thomson Reuters by 52.4% during the 1st quarter. NEXT Financial Group Inc now owns 800 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 275 shares during the period. Cognios Capital LLC bought a new stake in shares of Thomson Reuters in the 1st quarter valued at about $70,000. Hexavest Inc. bought a new stake in shares of Thomson Reuters in the 1st quarter valued at about $100,000. Finally, Parallel Advisors LLC increased its stake in shares of Thomson Reuters by 41.0% in the 1st quarter. Parallel Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 444 shares during the last quarter. Institutional investors own 19.82% of the company’s stock.
A number of brokerages have recently commented on TRI. ValuEngine cut Thomson Reuters from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Royal Bank of Canada upped their price target on Thomson Reuters from $70.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on Thomson Reuters from $80.00 to $71.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Bank of America reaffirmed a “buy” rating and issued a $82.00 price target (up from $81.00) on shares of Thomson Reuters in a research note on Wednesday, May 6th. Finally, Zacks Investment Research cut Thomson Reuters from a “buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Thomson Reuters currently has a consensus rating of “Hold” and a consensus price target of $82.00.
NYSE TRI opened at $69.84 on Friday. The business has a 50 day simple moving average of $68.20 and a 200 day simple moving average of $70.90. Thomson Reuters Corp has a 52-week low of $52.23 and a 52-week high of $82.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $34.54 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 3.38 and a beta of 0.49.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, May 5th. The business services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Thomson Reuters had a return on equity of 7.72% and a net margin of 27.99%. Thomson Reuters’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. On average, analysts predict that Thomson Reuters Corp will post 1.75 EPS for the current year.
About Thomson Reuters
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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