Envestnet Asset Management Inc. Has $33.22 Million Stake in Thomson Reuters Co. (NYSE:TRI)

Envestnet Asset Management Inc. lowered its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 207,121 shares of the business services provider's stock after selling 25,125 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Thomson Reuters were worth $33,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Thomson Reuters by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 5,381,842 shares of the business services provider's stock worth $864,195,000 after purchasing an additional 76,382 shares during the period. TD Asset Management Inc. grew its stake in Thomson Reuters by 12.2% during the fourth quarter. TD Asset Management Inc. now owns 4,764,429 shares of the business services provider's stock worth $764,654,000 after buying an additional 516,605 shares during the period. Geode Capital Management LLC lifted its holdings 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 valued at $214,236,000 after acquiring an additional 560,450 shares in the last quarter. CIBC Asset Management Inc boosted its position in Thomson Reuters by 52.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider's stock worth $185,011,000 after purchasing an additional 395,481 shares during the period. Finally, Norges Bank acquired a new stake in Thomson Reuters in the 4th quarter valued at $148,221,000. Institutional investors and hedge funds own 17.31% of the company's stock.

Thomson Reuters Stock Up 1.3 %

Shares of Thomson Reuters stock traded up $2.43 during midday trading on Thursday, hitting $182.68. The company's stock had a trading volume of 153,065 shares, compared to its average volume of 401,536. The firm has a market capitalization of $82.22 billion, a P/E ratio of 37.35, a PEG ratio of 5.67 and a beta of 0.70. Thomson Reuters Co. has a 1-year low of $149.50 and a 1-year high of $184.11. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a 50-day simple moving average of $173.49 and a 200-day simple moving average of $167.99.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. As a group, sell-side analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 20th were given a dividend of $0.595 per share. This is a boost 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 dividend on an annualized basis and a yield of 1.30%. Thomson Reuters's dividend payout ratio (DPR) is presently 48.67%.

Analysts Set New Price Targets

Several brokerages have issued reports on TRI. Bank of America initiated coverage on shares of Thomson Reuters in a research report on Thursday, April 10th. They issued a "neutral" rating and a $180.00 price objective for the company. Canaccord Genuity Group increased their target price on Thomson Reuters from $164.00 to $175.00 and gave the company a "hold" rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their price target on shares of Thomson Reuters from $165.00 to $177.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. StockNews.com lowered shares of Thomson Reuters from a "hold" rating to a "sell" rating in a report on Friday, April 11th. Finally, 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 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.com, the company currently has a consensus rating of "Hold" and an average target price of $177.80.

Thomson Reuters Profile

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.