E Fund Management Hong Kong Co. Ltd. Decreases Holdings in Thomson Reuters Co. (NYSE:TRI)

E Fund Management Hong Kong Co. Ltd. trimmed its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 22.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 350 shares of the business services provider’s stock after selling 103 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in Thomson Reuters were worth $60,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Blair William & Co. IL increased its stake in shares of Thomson Reuters by 3.0% in the 2nd quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock worth $385,000 after purchasing an additional 66 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Thomson Reuters by 1.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock worth $1,252,000 after purchasing an additional 74 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Thomson Reuters by 4.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock worth $277,000 after purchasing an additional 75 shares in the last quarter. Avitas Wealth Management LLC increased its stake in shares of Thomson Reuters by 0.4% in the 2nd quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock worth $3,508,000 after purchasing an additional 79 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Stock Up 0.0 %

Shares of NYSE:TRI opened at $166.58 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. Thomson Reuters Co. has a 12 month low of $118.91 and a 12 month high of $176.03. The company has a 50-day moving average price of $168.90 and a 200 day moving average price of $166.10. The company has a market cap of $74.90 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 5.54 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities research analysts predict that Thomson Reuters Co. will post 3.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. 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 price target on Thomson Reuters from $163.00 to $164.00 and gave the stock 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 increased their price target for the stock from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada increased their price target on Thomson Reuters from $168.00 to $171.00 and gave the stock 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Thomson Reuters has a consensus rating of “Hold” and an average price target of $173.73.

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.