Envestnet Asset Management Inc. Cuts Stock Position in Thomson Reuters Co. (NYSE:TRI)

Envestnet Asset Management Inc. cut its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 207,121 shares of the business services provider’s stock after selling 25,125 shares during the period. Envestnet Asset Management Inc.’s holdings in Thomson Reuters were worth $33,222,000 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. Vanguard Group Inc. increased its position in Thomson Reuters by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 5,381,842 shares of the business services provider’s stock valued at $864,195,000 after buying an additional 76,382 shares in the last quarter. TD Asset Management Inc. grew its position in Thomson Reuters by 12.2% during the 4th quarter. TD Asset Management Inc. now owns 4,764,429 shares of the business services provider’s stock worth $764,654,000 after purchasing an additional 516,605 shares during the last quarter. Geode Capital Management LLC grew its position in Thomson Reuters by 74.3% during the 4th quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider’s stock worth $214,236,000 after purchasing an additional 560,450 shares during the last quarter. CIBC Asset Management Inc increased its stake in Thomson Reuters by 52.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock valued at $185,011,000 after purchasing an additional 395,481 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Thomson Reuters in the fourth quarter worth $148,221,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Up 3.2 %

Shares of NYSE TRI opened at $172.68 on Friday. The firm has a market cap of $77.72 billion, a price-to-earnings ratio of 35.31, a price-to-earnings-growth ratio of 5.67 and a beta of 0.70. Thomson Reuters Co. has a 52-week low of $149.50 and a 52-week high of $180.42. The company’s 50-day simple moving average is $173.17 and its 200-day simple moving average is $167.78. 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 (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. Equities analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 1.38%. The ex-dividend date was Thursday, February 20th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s payout ratio is 48.67%.

Analyst Ratings Changes

A number of analysts have commented on the company. Scotiabank lifted their price target on Thomson Reuters from $187.00 to $188.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company lifted their target price on Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Bank of America began coverage on shares of Thomson Reuters in a report on Thursday. They issued a “neutral” rating and a $180.00 price target on the stock. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Friday. Finally, The Goldman Sachs Group boosted their target price on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Thomson Reuters has an average rating of “Hold” and an average price target of $177.80.

Thomson Reuters Company 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.