Thomson Reuters Corp $TRI Shares Sold by RFG Advisory LLC

RFG Advisory LLC trimmed its holdings in shares of Thomson Reuters Corp (NASDAQ:TRI) by 58.5% in the second quarter, HoldingsChannel reports. The firm owned 11,000 shares of the company’s stock after selling 15,535 shares during the period. RFG Advisory LLC’s holdings in Thomson Reuters were worth $898,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of TRI. Empowered Funds LLC purchased a new stake in Thomson Reuters in the 4th quarter valued at approximately $30,000. Timmons Wealth Management LLC acquired a new stake in Thomson Reuters during the 4th quarter valued at $42,000. J.Safra Asset Management Corp purchased a new position in Thomson Reuters during the fourth quarter worth $56,000. Western Wealth Management LLC purchased a new position in Thomson Reuters during the first quarter worth $48,000. Finally, Continuum Advisory LLC acquired a new position in shares of Thomson Reuters in the second quarter worth $45,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $97.35 on Friday. The stock has a fifty day moving average price of $99.67 and a 200 day moving average price of $93.53. Thomson Reuters Corp has a 52 week low of $76.28 and a 52 week high of $173.79. The firm has a market capitalization of $42.41 billion, a P/E ratio of 25.92, a PEG ratio of 1.86 and a beta of 0.74. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned $0.87 EPS. Equities research analysts anticipate that Thomson Reuters Corp will post 4.48 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a $0.655 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.62 annualized dividend and a dividend yield of 2.7%. Thomson Reuters’s dividend payout ratio (DPR) is currently 69.68%.

Wall Street Analyst Weigh In

A number of analysts recently commented on TRI shares. Canaccord Genuity Group decreased their price objective on Thomson Reuters from $134.00 to $132.50 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Scotiabank reissued a “sector outperform” rating and issued a $135.00 target price on shares of Thomson Reuters in a research note on Thursday, August 6th. Barclays reduced their target price on shares of Thomson Reuters from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, September 8th. Weiss Ratings raised shares of Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 24th. Finally, Wells Fargo & Company set a $85.00 price target on shares of Thomson Reuters and gave the stock an “equal weight” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Thomson Reuters presently has an average rating of “Moderate Buy” and a consensus target price of $131.57.

About Thomson Reuters

Thomson Reuters Corporation is a global provider of information, software, and technology solutions for professionals and institutions. Its products and services support legal professionals, corporations, tax and accounting firms, governments, and media organizations, helping customers manage regulatory requirements, research information, analyze data, and improve workflow efficiency.

The company’s offerings include legal research and practice-management solutions, tax and accounting software, corporate compliance and risk-management tools, and products designed for government and regulatory users.