Envestnet Asset Management Inc. Trims Holdings in Thomson Reuters Co. (NYSE:TRI)

Envestnet Asset Management Inc. cut its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 10.8% in the fourth quarter, Holdings Channel reports. The fund owned 207,121 shares of the business services provider’s stock after selling 25,125 shares during the period. Envestnet Asset Management Inc.’s holdings in Thomson Reuters were worth $33,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aviva PLC grew its stake in shares of Thomson Reuters by 1,608.4% in the 4th quarter. Aviva PLC now owns 94,302 shares of the business services provider’s stock valued at $15,112,000 after buying an additional 88,782 shares during the period. ExodusPoint Capital Management LP lifted its holdings in Thomson Reuters by 141.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 22,700 shares of the business services provider’s stock valued at $3,641,000 after acquiring an additional 13,298 shares during the last quarter. Huntington National Bank grew its position in Thomson Reuters by 20.7% in the fourth quarter. Huntington National Bank now owns 1,333 shares of the business services provider’s stock worth $214,000 after acquiring an additional 229 shares during the period. Trexquant Investment LP grew its holdings in shares of Thomson Reuters by 4.6% during the 4th quarter. Trexquant Investment LP now owns 71,859 shares of the business services provider’s stock worth $11,525,000 after purchasing an additional 3,161 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Thomson Reuters by 74.3% during the 4th quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider’s stock worth $214,236,000 after purchasing an additional 560,450 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Stock Up 3.2 %

Thomson Reuters stock opened at $172.68 on Friday. The stock has a market cap of $77.72 billion, a PE ratio of 35.31, a P/E/G ratio of 5.67 and a beta of 0.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The stock’s fifty day moving average is $173.17 and its two-hundred day moving average is $167.78. Thomson Reuters Co. has a 1-year low of $149.50 and a 1-year high of $180.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. On average, sell-side analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were issued a dividend of $0.595 per share. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.38 annualized dividend and a dividend yield of 1.38%. Thomson Reuters’s dividend payout ratio (DPR) is presently 48.67%.

Wall Street Analyst Weigh In

TRI has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their target price on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. StockNews.com cut shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Canaccord Genuity Group upped their price target on Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company increased their target price on Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Thomson Reuters presently has a consensus rating of “Hold” and a consensus price target of $177.80.

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.