Zions Bancorporation N.A. Trims Holdings in Thomson Reuters Co. (NYSE:TRI)

Zions Bancorporation N.A. lowered its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 38.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 199 shares of the business services provider’s stock after selling 123 shares during the period. Zions Bancorporation N.A.’s holdings in Thomson Reuters were worth $34,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Rothschild Investment LLC purchased a new stake in Thomson Reuters in the second quarter worth $25,000. EverSource Wealth Advisors LLC raised its holdings in Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. Gold Investment Management Ltd. purchased a new stake in shares of Thomson Reuters in the 4th quarter worth about $41,000. Principal Securities Inc. bought a new stake in shares of Thomson Reuters during the 4th quarter valued at about $48,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Thomson Reuters during the second quarter valued at about $73,000. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Trading Down 0.6 %

Shares of NYSE TRI opened at $172.70 on Monday. The firm’s 50 day moving average price is $165.14 and its 200-day moving average price is $163.22. Thomson Reuters Co. has a 52-week low of $117.46 and a 52-week high of $176.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $77.66 billion, a PE ratio of 32.90, a P/E/G ratio of 6.19 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. On average, equities research analysts expect that Thomson Reuters Co. will post 3.72 EPS for the current fiscal year.

Thomson Reuters Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a $0.146 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.34%. Thomson Reuters’s payout ratio is 41.14%.

Analyst Upgrades and Downgrades

Several brokerages have commented on TRI. JPMorgan Chase & Co. raised their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada dropped their price target on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Scotiabank upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $164.00 to $182.00 in a report on Tuesday, August 27th. Finally, National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Thomson Reuters has a consensus rating of “Hold” and an average target price 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.