AGF Management Ltd. Cuts Position in Thomson Reuters Co. (NYSE:TRI)

AGF Management Ltd. trimmed its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 11.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,290 shares of the business services provider’s stock after selling 32,946 shares during the period. AGF Management Ltd. owned approximately 0.06% of Thomson Reuters worth $43,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Andra AP fonden bought a new stake in Thomson Reuters in the second quarter worth $6,487,000. Choreo LLC purchased a new position in shares of Thomson Reuters in the 2nd quarter worth $1,191,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Thomson Reuters in the 2nd quarter worth about $73,000. Triasima Portfolio Management inc. raised its position in shares of Thomson Reuters by 17.0% during the 2nd quarter. Triasima Portfolio Management inc. now owns 207,167 shares of the business services provider’s stock valued at $34,905,000 after buying an additional 30,026 shares in the last quarter. Finally, Ballentine Partners LLC lifted its holdings in shares of Thomson Reuters by 3.2% in the 2nd quarter. Ballentine Partners LLC now owns 2,933 shares of the business services provider’s stock valued at $494,000 after acquiring an additional 90 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Trading Up 1.7 %

NYSE TRI opened at $171.55 on Wednesday. The stock has a market cap of $77.15 billion, a PE ratio of 32.68, a PEG ratio of 5.92 and a beta of 0.73. Thomson Reuters Co. has a 12 month low of $117.46 and a 12 month high of $176.03. The company’s 50-day moving average price is $164.89 and its 200-day moving average price is $162.90. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm earned $0.84 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts forecast that Thomson Reuters Co. will post 3.72 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.146 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s dividend payout ratio (DPR) is presently 41.14%.

Analysts Set New Price Targets

TRI has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday. Scotiabank upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada dropped their price objective on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $173.45.

About Thomson Reuters

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.