Marks Group Wealth Management Inc Decreases Holdings in Thomson Reuters Co. (NYSE:TRI)

Marks Group Wealth Management Inc trimmed its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,157 shares of the business services provider’s stock after selling 112 shares during the period. Marks Group Wealth Management Inc’s holdings in Thomson Reuters were worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Rothschild Investment LLC acquired a new stake in shares of Thomson Reuters in the second quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its position 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 valued at $28,000 after buying an additional 80 shares during the last quarter. Asset Dedication LLC grew its stake in Thomson Reuters by 125.0% during the 3rd 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 in the last quarter. Clean Yield Group acquired a new stake in shares of Thomson Reuters during the third quarter worth approximately $42,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Thomson Reuters by 104.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock worth $56,000 after purchasing an additional 167 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TRI shares. StockNews.com cut shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Scotiabank lifted their target price on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a report on Wednesday. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Finally, Royal Bank of Canada boosted their price objective on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $176.33.

Thomson Reuters Stock Down 2.8 %

Shares of NYSE:TRI opened at $166.29 on Thursday. The company has a 50 day moving average of $168.71 and a 200-day moving average of $166.61. The stock has a market cap of $74.81 billion, a price-to-earnings ratio of 31.92, a P/E/G ratio of 5.55 and a beta of 0.73. Thomson Reuters Co. has a one year low of $127.68 and a one year high of $176.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. Thomson Reuters’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. On average, sell-side analysts forecast that Thomson Reuters Co. will post 3.71 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.30%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, November 21st. Thomson Reuters’s payout ratio is presently 41.46%.

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.