Apollon Wealth Management LLC Sells 457 Shares of Thomson Reuters Co. (NYSE:TRI)

Apollon Wealth Management LLC decreased its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,933 shares of the business services provider’s stock after selling 457 shares during the period. Apollon Wealth Management LLC’s holdings in Thomson Reuters were worth $1,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cibc World Market Inc. grew its holdings in shares of Thomson Reuters by 26.3% during the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock worth $223,525,000 after acquiring an additional 276,206 shares during the period. MUFG Securities EMEA plc purchased a new position in shares of Thomson Reuters during the 2nd quarter worth approximately $45,514,000. Toronto Dominion Bank grew its holdings in shares of Thomson Reuters by 87.1% during the 2nd quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock worth $85,136,000 after acquiring an additional 235,145 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Thomson Reuters during the 3rd quarter worth approximately $29,250,000. Finally, Millennium Management LLC grew its holdings in shares of Thomson Reuters by 179.5% during the 2nd quarter. Millennium Management LLC now owns 243,524 shares of the business services provider’s stock worth $41,033,000 after acquiring an additional 156,410 shares during the period. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of TRI opened at $164.74 on Friday. The firm has a market capitalization of $74.11 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 5.73 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. Thomson Reuters Co. has a 1-year low of $132.87 and a 1-year high of $176.03. The company’s fifty day moving average price is $168.59 and its 200-day moving average price is $167.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, equities research analysts predict that Thomson Reuters Co. will post 3.69 EPS for the current year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, November 21st. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio is currently 42.52%.

Analysts Set New Price Targets

Several analysts recently weighed in on TRI shares. Royal Bank of Canada upped their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their price target on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Scotiabank upped their price objective on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Finally, StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $176.33.

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.