Bank of New York Mellon Corp lowered its stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 15.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 203,985 shares of the business services provider's stock after selling 38,100 shares during the quarter. Bank of New York Mellon Corp's holdings in Thomson Reuters were worth $32,715,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Decker Retirement Planning Inc. acquired a new stake in Thomson Reuters in the fourth quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Thomson Reuters during the 3rd quarter valued at $47,000. Nisa Investment Advisors LLC grew its position in Thomson Reuters by 67.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 496 shares of the business services provider's stock worth $85,000 after acquiring an additional 200 shares during the last quarter. Blue Trust Inc. increased its holdings in Thomson Reuters by 25.9% in the 4th quarter. Blue Trust Inc. now owns 832 shares of the business services provider's stock worth $142,000 after purchasing an additional 171 shares in the last quarter. Finally, R Squared Ltd bought a new position in Thomson Reuters in the fourth quarter valued at about $186,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently weighed in on TRI. JPMorgan Chase & Co. boosted their price target on Thomson Reuters from $175.00 to $177.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. CIBC lifted their price target on shares of Thomson Reuters from $165.00 to $174.00 in a report on Friday, February 7th. Scotiabank increased their price objective on Thomson Reuters from $187.00 to $188.00 and gave the company a "sector outperform" rating in a report on Friday, February 7th. The Goldman Sachs Group lifted their target price on Thomson Reuters from $168.00 to $188.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, Canaccord Genuity Group upped their price target on Thomson Reuters from $164.00 to $175.00 and gave the company a "hold" rating in a research report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Thomson Reuters has an average rating of "Hold" and an average price target of $182.09.
Get Our Latest Report on TRI
Thomson Reuters Trading Down 1.2 %
Shares of Thomson Reuters stock traded down $2.05 on Tuesday, hitting $171.69. The stock had a trading volume of 466,944 shares, compared to its average volume of 458,306. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a one year low of $149.50 and a one year high of $180.42. The stock's 50-day simple moving average is $168.74 and its two-hundred day simple moving average is $167.69. The stock has a market cap of $77.27 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 5.67 and a beta of 0.70.
Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, topping 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 predict that Thomson Reuters Co. will post 3.89 EPS for the current year.
Thomson Reuters Increases Dividend
The business 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 represents a $2.38 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, February 20th. This is a positive change from Thomson Reuters's previous quarterly dividend of $0.54. Thomson Reuters's dividend payout ratio (DPR) is 48.67%.
Thomson Reuters Profile
(
Free Report)
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.
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