Raymond James Financial Services Advisors Inc. Sells 2,972 Shares of Thomson Reuters Corp (NYSE:TRI)

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Raymond James Financial Services Advisors Inc. lowered its holdings in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 17.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,517 shares of the business services provider’s stock after selling 2,972 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Thomson Reuters were worth $986,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Squar Milner Financial Services LLC lifted its stake in shares of Thomson Reuters by 75.2% in the first quarter. Squar Milner Financial Services LLC now owns 382 shares of the business services provider’s stock worth $25,000 after buying an additional 164 shares in the last quarter. NEXT Financial Group Inc lifted its stake in shares of Thomson Reuters by 52.4% in the first quarter. NEXT Financial Group Inc now owns 800 shares of the business services provider’s stock worth $54,000 after buying an additional 275 shares in the last quarter. Cognios Capital LLC bought a new position in shares of Thomson Reuters in the first quarter worth approximately $70,000. Hexavest Inc. bought a new position in shares of Thomson Reuters in the first quarter worth approximately $100,000. Finally, Parallel Advisors LLC lifted its stake in shares of Thomson Reuters by 41.0% in the first quarter. Parallel Advisors LLC now owns 1,528 shares of the business services provider’s stock worth $103,000 after buying an additional 444 shares in the last quarter. 19.82% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Thomson Reuters from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays dropped their target price on shares of Thomson Reuters from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. JPMorgan Chase & Co. decreased their price objective on shares of Thomson Reuters from $80.00 to $71.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Bank of America reissued a “buy” rating and set a $82.00 price objective (up from $81.00) on shares of Thomson Reuters in a report on Wednesday, May 6th. Finally, Zacks Investment Research cut shares of Thomson Reuters from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $82.00.

Shares of TRI stock opened at $69.84 on Friday. Thomson Reuters Corp has a 12 month low of $52.23 and a 12 month high of $82.50. The stock has a market cap of $34.54 billion, a P/E ratio of 21.10, a P/E/G ratio of 3.38 and a beta of 0.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29. The company has a 50 day simple moving average of $68.20 and a two-hundred day simple moving average of $70.90.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, May 5th. The business services provider reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.01). Thomson Reuters had a net margin of 27.99% and a return on equity of 7.72%. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company posted $0.36 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that Thomson Reuters Corp will post 1.75 earnings per share for the current year.

About Thomson Reuters

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.

See Also: Limitations of the P/E Growth ratio

Institutional Ownership by Quarter for Thomson Reuters (NYSE:TRI)

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