Thomson Reuters Co. (NYSE:TRI) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 11.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,561,070 shares of the business services provider’s stock after selling 472,359 shares during the quarter. Thomson Reuters accounts for 0.9% of Mackenzie Financial Corp’s investment portfolio, making the stock its 25th biggest position. Mackenzie Financial Corp’s holdings in Thomson Reuters were worth $600,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Thomson Reuters by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider’s stock worth $894,442,000 after purchasing an additional 41,680 shares in the last quarter. FIL Ltd lifted its holdings in Thomson Reuters by 9.8% in the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after buying an additional 445,444 shares in the last quarter. TD Asset Management Inc boosted its position in Thomson Reuters by 0.7% in the 2nd quarter. TD Asset Management Inc now owns 4,074,256 shares of the business services provider’s stock valued at $686,640,000 after buying an additional 26,483 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of Thomson Reuters by 0.8% during the fourth quarter. 1832 Asset Management L.P. now owns 1,783,086 shares of the business services provider’s stock valued at $260,723,000 after acquiring an additional 13,747 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Thomson Reuters by 3.9% during the first quarter. Clearbridge Investments LLC now owns 1,333,533 shares of the business services provider’s stock worth $207,804,000 after acquiring an additional 50,367 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Scotiabank upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $164.00 to $182.00 in a report on Tuesday, August 27th. Royal Bank of Canada cut their price target on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. 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. Finally, National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Thomson Reuters presently has a consensus rating of “Hold” and a consensus price target of $173.45.

Thomson Reuters Stock Performance

NYSE:TRI opened at $171.25 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $165.93 and a 200-day moving average of $163.91. Thomson Reuters Co. has a twelve month low of $117.46 and a twelve month high of $176.03. The firm has a market cap of $77.01 billion, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 5.79 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results 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 company 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 revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. Analysts forecast that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

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

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.