Axxcess Wealth Management LLC Cuts Stake in Thomson Reuters Co. $TRI

Axxcess Wealth Management LLC lowered its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 14.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,078 shares of the business services provider’s stock after selling 181 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Thomson Reuters were worth $217,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of TRI. TD Asset Management Inc raised its position in Thomson Reuters by 15.7% during the 1st quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider’s stock worth $951,477,000 after buying an additional 750,063 shares during the last quarter. Millennium Management LLC raised its position in Thomson Reuters by 365.6% during the 1st quarter. Millennium Management LLC now owns 894,074 shares of the business services provider’s stock worth $154,475,000 after buying an additional 702,036 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Thomson Reuters by 36.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,588,508 shares of the business services provider’s stock worth $274,462,000 after buying an additional 421,279 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Thomson Reuters by 97.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 414,960 shares of the business services provider’s stock worth $71,620,000 after buying an additional 205,306 shares during the last quarter. Finally, Junto Capital Management LP purchased a new position in Thomson Reuters during the 1st quarter worth $34,422,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TRI shares. The Goldman Sachs Group set a $186.00 price target on shares of Thomson Reuters and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley cut their price target on shares of Thomson Reuters from $197.00 to $187.00 and set an “equal weight” rating for the company in a report on Thursday, September 11th. CIBC upgraded shares of Thomson Reuters from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 19th. Canaccord Genuity Group increased their price target on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a “hold” rating in a report on Thursday, August 7th. Finally, Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $188.00 to $200.00 in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Thomson Reuters has an average rating of “Moderate Buy” and a consensus target price of $202.64.

Thomson Reuters Price Performance

Shares of NYSE TRI opened at $158.53 on Friday. The stock has a market cap of $71.18 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 5.67 and a beta of 0.74. Thomson Reuters Co. has a 52 week low of $149.47 and a 52 week high of $218.42. The company’s 50-day moving average price is $166.08 and its 200 day moving average price is $182.68. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.79 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. As a group, research analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Thomson Reuters’s dividend payout ratio is presently 65.75%.

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.