Envestnet Asset Management Inc. Has $67.23 Million Holdings in Thomson Reuters Co. (NYSE:TRI)

Envestnet Asset Management Inc. decreased its holdings in shares of Thomson Reuters Co. (NYSE:TRIFree Report) (TSE:TRI) by 15.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 459,488 shares of the business services provider’s stock after selling 86,634 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Thomson Reuters worth $67,228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC bought a new position in shares of Thomson Reuters in the 3rd quarter valued at $686,000. Vanguard Personalized Indexing Management LLC raised its position in Thomson Reuters by 7.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 7,156 shares of the business services provider’s stock valued at $875,000 after purchasing an additional 502 shares during the last quarter. Pathstone Family Office LLC boosted its stake in shares of Thomson Reuters by 54.5% during the third quarter. Pathstone Family Office LLC now owns 4,008 shares of the business services provider’s stock valued at $490,000 after purchasing an additional 1,414 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Thomson Reuters by 10.1% in the third quarter. HighTower Advisors LLC now owns 21,380 shares of the business services provider’s stock valued at $2,618,000 after buying an additional 1,961 shares during the period. Finally, Wealth Alliance increased its stake in shares of Thomson Reuters by 5.9% in the third quarter. Wealth Alliance now owns 1,977 shares of the business services provider’s stock valued at $242,000 after buying an additional 111 shares during the period. Institutional investors own 17.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. CIBC upped their price target on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. UBS Group increased their price objective on Thomson Reuters from $177.00 to $190.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Royal Bank of Canada lifted their target price on Thomson Reuters from $153.00 to $156.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 30th. National Bank Financial raised Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, April 23rd. Finally, Canaccord Genuity Group raised their price objective on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Thomson Reuters currently has an average rating of “Hold” and an average target price of $168.42.

Check Out Our Latest Report on TRI

Thomson Reuters Price Performance

Thomson Reuters stock opened at $170.78 on Tuesday. The stock’s 50 day moving average price is $162.39 and its two-hundred day moving average price is $154.33. The stock has a market capitalization of $76.95 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 6.52 and a beta of 0.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. Thomson Reuters Co. has a 52-week low of $117.46 and a 52-week high of $176.03.

Thomson Reuters (NYSE:TRIGet Free Report) (TSE:TRI) last issued its earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. Thomson Reuters’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts predict that Thomson Reuters Co. will post 3.67 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Wednesday, May 15th. Thomson Reuters’s payout ratio is 40.57%.

Thomson Reuters Company Profile

(Free Report)

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.

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

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