Fmr LLC Sells 9,011,550 Shares of Thomson Reuters Corp (TRI)

Fmr LLC cut its holdings in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 97.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 281,348 shares of the business services provider’s stock after selling 9,011,550 shares during the quarter. Fmr LLC’s holdings in Thomson Reuters were worth $11,353,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its stake in Thomson Reuters by 6,100.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,480 shares of the business services provider’s stock worth $100,000 after purchasing an additional 2,440 shares in the last quarter. Daiwa SB Investments Ltd. bought a new position in Thomson Reuters in the 2nd quarter worth about $141,000. CenterStar Asset Management LLC boosted its stake in Thomson Reuters by 955.5% in the 2nd quarter. CenterStar Asset Management LLC now owns 4,929 shares of the business services provider’s stock worth $198,000 after purchasing an additional 4,462 shares in the last quarter. Shine Investment Advisory Services Inc. boosted its stake in Thomson Reuters by 138.1% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 5,070 shares of the business services provider’s stock worth $204,000 after purchasing an additional 2,941 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Thomson Reuters by 40.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,338 shares of the business services provider’s stock worth $206,000 after purchasing an additional 1,537 shares in the last quarter. 22.53% of the stock is currently owned by hedge funds and other institutional investors.

TRI opened at $46.69 on Monday. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.41. The stock has a market cap of $31.98 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 12.90 and a beta of 0.65. Thomson Reuters Corp has a 52-week low of $36.52 and a 52-week high of $48.61.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Wednesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.06. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Thomson Reuters had a net margin of 14.15% and a return on equity of 9.17%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. As a group, analysts expect that Thomson Reuters Corp will post 0.64 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Thursday, August 16th were paid a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Wednesday, August 15th. Thomson Reuters’s dividend payout ratio is currently 54.98%.

A number of brokerages recently issued reports on TRI. Morgan Stanley upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research note on Thursday, September 13th. ValuEngine upgraded shares of Thomson Reuters from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. Canaccord Genuity reiterated a “buy” rating and issued a $50.00 price target on shares of Thomson Reuters in a research note on Wednesday, September 5th. Royal Bank of Canada upped their price target on shares of Thomson Reuters from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 29th. Finally, Zacks Investment Research upgraded shares of Thomson Reuters from a “strong sell” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Sunday, July 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.70.

About Thomson Reuters

Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.

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

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