Pictet Asset Management Ltd. cut its stake in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 4.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 67,731 shares of the business services provider’s stock after selling 3,183 shares during the period. Pictet Asset Management Ltd.’s holdings in Thomson Reuters were worth $4,379,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Hilton Capital Management LLC raised its position in shares of Thomson Reuters by 67.7% in the first quarter. Hilton Capital Management LLC now owns 327,828 shares of the business services provider’s stock valued at $19,407,000 after buying an additional 132,315 shares during the last quarter. Benjamin Edwards Inc. raised its position in shares of Thomson Reuters by 264.8% in the second quarter. Benjamin Edwards Inc. now owns 4,253 shares of the business services provider’s stock valued at $274,000 after buying an additional 3,087 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Thomson Reuters in the second quarter valued at about $11,592,000. AdvisorNet Financial Inc raised its position in shares of Thomson Reuters by 110.3% in the second quarter. AdvisorNet Financial Inc now owns 3,010 shares of the business services provider’s stock valued at $194,000 after buying an additional 1,579 shares during the last quarter. Finally, Advisor Group Inc. raised its position in shares of Thomson Reuters by 43.0% in the first quarter. Advisor Group Inc. now owns 17,349 shares of the business services provider’s stock valued at $1,028,000 after buying an additional 5,213 shares during the last quarter. Institutional investors own 20.00% of the company’s stock.
Thomson Reuters stock traded up $1.70 during midday trading on Tuesday, hitting $67.96. 112,992 shares of the stock were exchanged, compared to its average volume of 472,338. Thomson Reuters Corp has a fifty-two week low of $46.45 and a fifty-two week high of $71.28. The stock has a market capitalization of $33.54 billion, a price-to-earnings ratio of 90.61, a PEG ratio of 3.05 and a beta of 0.54. The stock’s 50-day simple moving average is $67.70 and its 200 day simple moving average is $63.57. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.36.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Wednesday, August 21st. Thomson Reuters’s payout ratio is 192.00%.
A number of equities research analysts have recently commented on the stock. ValuEngine cut shares of Thomson Reuters from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded shares of Thomson Reuters from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Wednesday, August 7th. BMO Capital Markets reiterated a “hold” rating and issued a $95.00 target price on shares of Thomson Reuters in a research report on Friday, August 2nd. Bank of America increased their target price on shares of Thomson Reuters from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity cut shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $70.59.
Thomson Reuters Company Profile
Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.
Featured Article: What is Put Option Volume?
Want to see what other hedge funds are holding TRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thomson Reuters Corp (NYSE:TRI) (TSE:TRI).
Receive News & Ratings for Thomson Reuters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thomson Reuters and related companies with MarketBeat.com's FREE daily email newsletter.