Beacon Pointe Advisors LLC Sells 409 Shares of Thomson Reuters Co. (NYSE:TRI)

Beacon Pointe Advisors LLC reduced its stake in Thomson Reuters Co. (NYSE:TRIGet Rating) (TSE:TRI) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,900 shares of the business services provider’s stock after selling 409 shares during the period. Beacon Pointe Advisors LLC’s holdings in Thomson Reuters were worth $1,555,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TRI. Charter Oak Capital Management LLC bought a new stake in shares of Thomson Reuters in the 2nd quarter worth about $35,000. Glassman Wealth Services increased its holdings in shares of Thomson Reuters by 64.1% in the 2nd quarter. Glassman Wealth Services now owns 343 shares of the business services provider’s stock worth $36,000 after buying an additional 134 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Thomson Reuters in the 2nd quarter worth about $55,000. Venture Visionary Partners LLC bought a new stake in shares of Thomson Reuters in the 2nd quarter worth about $63,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Thomson Reuters in the 1st quarter worth about $115,000. 21.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TRI shares. BMO Capital Markets boosted their target price on shares of Thomson Reuters from $160.00 to $165.00 in a report on Wednesday, November 2nd. StockNews.com began coverage on shares of Thomson Reuters in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Canaccord Genuity Group upped their price target on shares of Thomson Reuters from $115.00 to $122.00 and gave the company a “buy” rating in a report on Friday, August 5th. Canaccord Genuity Group upped their price target on shares of Thomson Reuters from $115.00 to $122.00 and gave the company a “buy” rating in a report on Monday, August 8th. Finally, Morgan Stanley cut their price target on shares of Thomson Reuters from $112.00 to $108.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Thomson Reuters presently has an average rating of “Moderate Buy” and a consensus price target of $124.67.

Thomson Reuters Price Performance

Shares of TRI opened at $115.50 on Thursday. The company has a 50 day moving average price of $106.01 and a 200-day moving average price of $105.59. Thomson Reuters Co. has a fifty-two week low of $91.55 and a fifty-two week high of $122.76. The stock has a market capitalization of $55.54 billion, a PE ratio of 59.84, a PEG ratio of 4.16 and a beta of 0.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.68 and a current ratio of 0.68.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, November 17th will be given a $0.322 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $1.29 annualized dividend and a dividend yield of 1.12%. Thomson Reuters’s payout ratio is presently 92.23%.

Thomson Reuters Profile

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Thomson Reuters Corporation provides 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.

See Also

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

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