Point72 Asset Management L.P. Sells 218,000 Shares of Thomson Reuters Co. (NYSE:TRI)

Point72 Asset Management L.P. reduced its position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 45.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 262,500 shares of the business services provider's stock after selling 218,000 shares during the quarter. Point72 Asset Management L.P. owned about 0.06% of Thomson Reuters worth $44,250,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FIL Ltd raised its stake in shares of Thomson Reuters by 9.8% in the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider's stock worth $730,195,000 after purchasing an additional 445,444 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Thomson Reuters by 53.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 969,443 shares of the business services provider's stock worth $141,752,000 after purchasing an additional 338,896 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Thomson Reuters by 7.9% in the first quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider's stock worth $630,534,000 after purchasing an additional 295,301 shares during the last quarter. Cibc World Market Inc. raised its stake in shares of Thomson Reuters by 26.3% in the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider's stock worth $223,525,000 after purchasing an additional 276,206 shares during the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Thomson Reuters in the second quarter worth approximately $45,514,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Stock Down 0.7 %

Shares of TRI stock traded down $1.23 during trading hours on Thursday, hitting $171.27. 235,649 shares of the company's stock traded hands, compared to its average volume of 369,849. Thomson Reuters Co. has a 12-month low of $117.46 and a 12-month high of $176.03. The stock has a market cap of $77.01 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 5.78 and a beta of 0.73. The stock's fifty day simple moving average is $165.93 and its two-hundred day simple moving average is $163.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. Thomson Reuters's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. On average, analysts expect that Thomson Reuters Co. will post 3.71 EPS for the current year.

Thomson Reuters Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.146 per share. This represents a $0.58 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Thursday, August 15th. Thomson Reuters's dividend payout ratio is 41.14%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. National Bank Financial raised Thomson Reuters from a "sector perform" rating to an "outperform" rating in a research note on Monday, September 9th. Royal Bank of Canada reduced their target price on Thomson Reuters from $170.00 to $168.00 and set a "sector perform" rating for the company in a report on Friday, August 2nd. Scotiabank raised Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and upped their target price for the company from $164.00 to $182.00 in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. upped their target price on Thomson Reuters from $163.00 to $164.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $173.45.

Thomson Reuters Company 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.