Axxcess Wealth Management LLC Sells 265 Shares of Thomson Reuters Co. (NYSE:TRI)

Axxcess Wealth Management LLC cut its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 3.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,685 shares of the business services provider’s stock after selling 265 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Thomson Reuters were worth $1,198,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Shell Asset Management Co. raised its holdings in shares of Thomson Reuters by 5.8% in the first quarter. Shell Asset Management Co. now owns 27,232 shares of the business services provider’s stock valued at $4,242,000 after buying an additional 1,483 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Thomson Reuters in the first quarter valued at about $138,000. InterOcean Capital Group LLC bought a new position in shares of Thomson Reuters in the first quarter valued at about $222,000. Bessemer Group Inc. raised its holdings in shares of Thomson Reuters by 874.0% in the first quarter. Bessemer Group Inc. now owns 130,744 shares of the business services provider’s stock valued at $20,351,000 after buying an additional 117,320 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in shares of Thomson Reuters by 90.3% in the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the business services provider’s stock valued at $343,000 after buying an additional 1,044 shares during the last quarter. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Stock Down 0.4 %

Shares of Thomson Reuters stock traded down $0.64 on Friday, reaching $161.70. 760,810 shares of the company were exchanged, compared to its average volume of 475,352. Thomson Reuters Co. has a one year low of $117.46 and a one year high of $176.03. The company has a market capitalization of $72.71 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 6.20 and a beta of 0.72. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $168.21 and a 200 day moving average of $159.86.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.17. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts forecast that Thomson Reuters Co. will post 3.67 earnings per share for the current year.

Thomson Reuters Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Wednesday, May 15th. Thomson Reuters’s dividend payout ratio (DPR) is presently 40.57%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $152.00 to $163.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. CIBC lifted their price objective on Thomson Reuters from $152.00 to $156.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Canaccord Genuity Group lifted 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. Royal Bank of Canada lifted their price objective on Thomson Reuters from $153.00 to $156.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 30th. Finally, Canaccord Genuity Group boosted their target price 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 assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $170.64.

Thomson Reuters 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.