E Fund Management Hong Kong Co. Ltd. Decreases Stock Position in Thomson Reuters Co. (NYSE:TRI)

E Fund Management Hong Kong Co. Ltd. lowered its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 22.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 350 shares of the business services provider’s stock after selling 103 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in Thomson Reuters were worth $60,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in shares of Thomson Reuters by 23.8% in the first quarter. Janus Henderson Group PLC now owns 16,770 shares of the business services provider’s stock worth $2,612,000 after buying an additional 3,223 shares during the period. Bessemer Group Inc. increased its holdings in Thomson Reuters by 874.0% during the 1st quarter. Bessemer Group Inc. now owns 130,744 shares of the business services provider’s stock valued at $20,351,000 after purchasing an additional 117,320 shares during the period. &PARTNERS purchased a new position in Thomson Reuters during the 2nd quarter valued at about $278,000. Quantbot Technologies LP purchased a new position in Thomson Reuters during the 1st quarter valued at about $610,000. Finally, Forsta AP Fonden increased its holdings in Thomson Reuters by 151.2% during the 1st quarter. Forsta AP Fonden now owns 78,588 shares of the business services provider’s stock valued at $12,242,000 after purchasing an additional 47,300 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TRI. Royal Bank of Canada boosted their price target on Thomson Reuters from $168.00 to $171.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $164.00 to $182.00 in a research report on Tuesday, August 27th. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Thomson Reuters presently has an average rating of “Hold” and a consensus target price of $173.73.

Thomson Reuters Stock Performance

TRI stock opened at $166.58 on Thursday. The stock has a market capitalization of $74.90 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 5.54 and a beta of 0.73. Thomson Reuters Co. has a 12-month low of $118.91 and a 12-month high of $176.03. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $168.90 and its 200 day simple moving average is $166.10.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. As a group, research analysts forecast that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal year.

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.