Sequoia Financial Advisors LLC Cuts Stake in Thomson Reuters Co. (NYSE:TRI)

Sequoia Financial Advisors LLC lowered its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,605 shares of the business services provider’s stock after selling 145 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Thomson Reuters were worth $444,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Rothschild Investment LLC purchased a new stake in shares of Thomson Reuters during the 2nd quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in Thomson Reuters by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. Asset Dedication LLC grew its holdings in Thomson Reuters by 125.0% during the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 130 shares during the period. Clean Yield Group purchased a new stake in Thomson Reuters in the third quarter worth $42,000. Finally, Exchange Traded Concepts LLC raised its stake in shares of Thomson Reuters by 104.4% in the third quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after buying an additional 167 shares during the period. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $164.78 on Monday. Thomson Reuters Co. has a 1-year low of $117.46 and a 1-year high of $176.03. 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 firm has a market capitalization of $74.09 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 5.61 and a beta of 0.73. The firm’s 50 day simple moving average is $168.78 and its 200 day simple moving average is $165.91.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. As a group, analysts expect that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.35%. Thomson Reuters’s dividend payout ratio (DPR) is presently 41.14%.

Analyst Ratings Changes

TRI has been the subject of several research reports. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. increased their target price 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. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $164.00 to $182.00 in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada upped their price target on shares of Thomson Reuters from $168.00 to $171.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $173.73.

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.