Envestnet Asset Management Inc. Reduces Stock Position in Thomson Reuters Co. $TRI

Envestnet Asset Management Inc. decreased its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 16.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 309,318 shares of the business services provider’s stock after selling 60,666 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Thomson Reuters were worth $48,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Curio Wealth LLC boosted its position in Thomson Reuters by 16,200.0% during the second quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock worth $33,000 after acquiring an additional 162 shares during the last quarter. Westside Investment Management Inc. acquired a new position in Thomson Reuters in the 2nd quarter valued at $34,000. Ameritas Advisory Services LLC purchased a new position in shares of Thomson Reuters during the 2nd quarter worth $37,000. AlphaCore Capital LLC acquired a new stake in shares of Thomson Reuters during the second quarter worth $39,000. Finally, Cullen Frost Bankers Inc. grew its position in shares of Thomson Reuters by 50.0% in the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 83 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TRI shares. Royal Bank Of Canada set a $126.00 target price on Thomson Reuters in a research report on Friday. The Goldman Sachs Group set a $111.00 target price on shares of Thomson Reuters and gave the stock a “buy” rating in a research report on Saturday. Wells Fargo & Company set a $140.00 target price on shares of Thomson Reuters and gave the company an “overweight” rating in a report on Wednesday, February 4th. Huber Research raised shares of Thomson Reuters to an “overweight” rating in a research note on Monday, October 20th. Finally, Canadian Imperial Bank of Commerce set a $183.00 price target on shares of Thomson Reuters and gave the company an “outperformer” rating in a report on Friday, January 16th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $156.42.

Thomson Reuters Trading Up 1.4%

Shares of TRI stock opened at $89.31 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a fifty-two week low of $85.02 and a fifty-two week high of $218.42. The firm’s 50 day moving average price is $123.96 and its two-hundred day moving average price is $148.88. The stock has a market cap of $39.74 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 5.67 and a beta of 0.79.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, February 5th. The business services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter last year, the firm posted $1.01 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be given a $0.655 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.60. This represents a $2.62 annualized dividend and a dividend yield of 2.9%. Thomson Reuters’s dividend payout ratio (DPR) is currently 78.68%.

About Thomson Reuters

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.