CIBC Asset Management Inc Sells 19,217 Shares of Thomson Reuters Co. (NYSE:TRI)

CIBC Asset Management Inc trimmed its holdings in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 757,759 shares of the business services provider's stock after selling 19,217 shares during the period. CIBC Asset Management Inc owned 0.17% of Thomson Reuters worth $129,529,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. OneDigital Investment Advisors LLC boosted its position in Thomson Reuters by 2.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,700 shares of the business services provider's stock valued at $972,000 after purchasing an additional 140 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Thomson Reuters during the third quarter valued at $4,387,000. Aigen Investment Management LP increased its holdings in shares of Thomson Reuters by 87.4% in the 3rd quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider's stock worth $1,250,000 after acquiring an additional 3,417 shares during the period. Ashton Thomas Securities LLC bought a new stake in Thomson Reuters in the 3rd quarter valued at about $47,000. Finally, Axxcess Wealth Management LLC boosted its stake in Thomson Reuters by 4.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 3,068 shares of the business services provider's stock valued at $523,000 after purchasing an additional 136 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Thomson Reuters Stock Performance

Shares of TRI traded down $3.01 during trading hours on Friday, hitting $161.73. The company had a trading volume of 145,630 shares, compared to its average volume of 353,583. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $168.53 and a 200-day moving average of $167.13. Thomson Reuters Co. has a 12 month low of $133.26 and a 12 month high of $176.03. The firm has a market cap of $72.76 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 5.70 and a beta of 0.73.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings results 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 firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The business's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $0.82 EPS. Equities analysts anticipate that Thomson Reuters Co. will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a $0.54 dividend. This is an increase from Thomson Reuters's previous quarterly dividend of $0.15. The ex-dividend date is Thursday, November 21st. This represents a $2.16 dividend on an annualized basis and a yield of 1.34%. Thomson Reuters's payout ratio is presently 42.52%.

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.