Hsbc Holdings PLC Cuts Stake in Thomson Reuters Co. (NYSE:TRI)

Hsbc Holdings PLC trimmed its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 79.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,142 shares of the business services provider’s stock after selling 72,919 shares during the quarter. Hsbc Holdings PLC’s holdings in Thomson Reuters were worth $3,235,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blair William & Co. IL boosted its holdings in shares of Thomson Reuters by 3.0% in the 2nd quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock valued at $385,000 after purchasing an additional 66 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Thomson Reuters by 15.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,966 shares of the business services provider’s stock worth $1,680,000 after acquiring an additional 1,348 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Thomson Reuters by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 183,605 shares of the business services provider’s stock worth $30,954,000 after purchasing an additional 9,571 shares during the period. Rathbones Group PLC lifted its stake in shares of Thomson Reuters by 313.7% in the 2nd quarter. Rathbones Group PLC now owns 101,710 shares of the business services provider’s stock valued at $17,141,000 after purchasing an additional 77,122 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Thomson Reuters by 5.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,012 shares of the business services provider’s stock worth $1,182,000 after purchasing an additional 358 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Trading Up 0.3 %

Shares of TRI opened at $172.63 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. Thomson Reuters Co. has a one year low of $117.46 and a one year high of $176.03. The stock has a 50-day moving average price of $165.76 and a 200 day moving average price of $163.85. The company has a market capitalization of $77.63 billion, a P/E ratio of 32.88, a P/E/G ratio of 5.78 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (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 during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. Sell-side analysts forecast that Thomson Reuters Co. will post 3.71 EPS for the current fiscal year.

Thomson Reuters Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.146 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.58 annualized dividend and a dividend yield of 0.34%. Thomson Reuters’s payout ratio is 41.14%.

Analyst Ratings Changes

A number of brokerages have weighed in on TRI. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $164.00 to $182.00 in a research report on Tuesday, August 27th. JPMorgan Chase & Co. upped their price target on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Finally, Royal Bank of Canada lowered their target price on 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently 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.