Canada Pension Plan Investment Board Sells 223,000 Shares of Thomson Reuters Co. (NYSE:TRI)

Canada Pension Plan Investment Board lessened its stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 51.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,654 shares of the business services provider's stock after selling 223,000 shares during the quarter. Canada Pension Plan Investment Board's holdings in Thomson Reuters were worth $33,622,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Decker Retirement Planning Inc. purchased a new stake in Thomson Reuters in the 4th quarter worth approximately $26,000. Curio Wealth LLC bought a new position in Thomson Reuters in the 4th quarter worth about $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Thomson Reuters during the 4th quarter valued at about $27,000. Noble Wealth Management PBC purchased a new position in shares of Thomson Reuters during the fourth quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Thomson Reuters by 60.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider's stock worth $58,000 after acquiring an additional 136 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Stock Down 0.8 %

Thomson Reuters stock traded down $1.51 during mid-day trading on Friday, reaching $180.53. The stock had a trading volume of 242,919 shares, compared to its average volume of 409,787. Thomson Reuters Co. has a one year low of $149.80 and a one year high of $184.17. The company has a 50-day moving average price of $174.09 and a two-hundred day moving average price of $168.53. The company has a market capitalization of $81.25 billion, a price-to-earnings ratio of 36.92, a PEG ratio of 5.67 and a beta of 0.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. On average, analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.595 per share. This is an increase from Thomson Reuters's previous quarterly dividend of $0.54. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, February 20th. Thomson Reuters's payout ratio is currently 48.67%.

Wall Street Analyst Weigh In

Several analysts have issued reports on TRI shares. StockNews.com upgraded shares of Thomson Reuters from a "sell" rating to a "hold" rating in a research report on Saturday, April 19th. Scotiabank upped their price objective on shares of Thomson Reuters from $187.00 to $188.00 and gave the company a "sector outperform" rating in a research note on Friday, February 7th. Canaccord Genuity Group raised their target price on Thomson Reuters from $164.00 to $175.00 and gave the stock a "hold" rating in a research note on Friday, February 7th. The Goldman Sachs Group increased their price objective on Thomson Reuters from $168.00 to $188.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, Bank of America assumed coverage on Thomson Reuters in a report on Thursday, April 10th. They set a "neutral" rating and a $180.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $177.80.

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.