EFG Asset Management Americas Corp. Acquires 6,525 Shares of Thomson Reuters Co. (NYSE:TRI)

EFG Asset Management Americas Corp. increased its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 65.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 16,500 shares of the business services provider’s stock after purchasing an additional 6,525 shares during the period. EFG Asset Management Americas Corp.’s holdings in Thomson Reuters were worth $2,781,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in shares of Thomson Reuters by 1.8% during the first quarter. Assenagon Asset Management S.A. now owns 3,990 shares of the business services provider’s stock worth $622,000 after acquiring an additional 70 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Thomson Reuters by 1.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock valued at $1,252,000 after buying an additional 74 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of Thomson Reuters by 4.8% in the second quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock valued at $277,000 after buying an additional 75 shares during the period. Avitas Wealth Management LLC boosted its stake in shares of Thomson Reuters by 0.4% in the second quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock valued at $3,508,000 after buying an additional 79 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of 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 buying an additional 80 shares during the period. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of NYSE:TRI traded down $1.76 during trading on Friday, hitting $166.24. 183,012 shares of the company were exchanged, compared to its average volume of 319,291. The business’s 50 day moving average is $164.81 and its 200-day moving average is $162.66. The company has a market capitalization of $74.76 billion, a P/E ratio of 31.68, a price-to-earnings-growth ratio of 6.04 and a beta of 0.73. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16. Thomson Reuters Co. has a 1-year low of $117.46 and a 1-year high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data 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. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Thomson Reuters’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts forecast that Thomson Reuters Co. will post 3.72 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.146 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.58 dividend on an annualized basis and a yield of 0.35%. Thomson Reuters’s payout ratio is currently 41.14%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TRI shares. JPMorgan Chase & Co. boosted their price target on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Scotiabank upgraded 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 note on Tuesday, August 27th. Finally, Royal Bank of Canada lowered their price objective on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $173.45.

Thomson Reuters Company 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.