Citigroup Inc. Lowers Stock Position in Thomson Reuters Co. (NYSE:TRI)

Citigroup Inc. lowered its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 6.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,047 shares of the business services provider's stock after selling 4,997 shares during the period. Citigroup Inc.'s holdings in Thomson Reuters were worth $12,644,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Thomson Reuters by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 318,713 shares of the business services provider's stock valued at $54,421,000 after buying an additional 10,016 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Thomson Reuters by 1.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 484,410 shares of the business services provider's stock worth $82,640,000 after purchasing an additional 8,962 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Thomson Reuters by 73.5% in the third quarter. Advisors Asset Management Inc. now owns 4,265 shares of the business services provider's stock worth $728,000 after purchasing an additional 1,807 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Thomson Reuters by 11.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider's stock valued at $439,665,000 after purchasing an additional 255,387 shares in the last quarter. Finally, Hilton Capital Management LLC boosted its position in shares of Thomson Reuters by 1.8% during the third quarter. Hilton Capital Management LLC now owns 83,169 shares of the business services provider's stock valued at $14,189,000 after buying an additional 1,460 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Analyst Ratings Changes

TRI has been the subject of several analyst reports. National Bank Financial upgraded shares of Thomson Reuters from a "sector perform" rating to an "outperform" rating in a report on Monday, September 9th. Wells Fargo & Company assumed coverage on Thomson Reuters in a research report on Tuesday. They set an "equal weight" rating and a $165.00 price target for the company. 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 note on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada raised their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a "sector perform" rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $175.20.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock traded up $1.05 during trading hours on Friday, reaching $162.75. The company had a trading volume of 143,503 shares, compared to its average volume of 352,669. 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 one year low of $138.80 and a one year high of $176.03. The firm has a market cap of $73.22 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 5.47 and a beta of 0.73. The business has a fifty day simple moving average of $166.55 and a 200 day simple moving average of $167.04.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company earned $0.82 EPS. The firm's revenue was up 8.2% compared to the same quarter last year. On average, analysts anticipate that Thomson Reuters Co. will post 3.69 earnings per share 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. Shareholders of record on Thursday, November 21st will be paid a $0.54 dividend. The ex-dividend date is Thursday, November 21st. This is a boost from Thomson Reuters's previous quarterly dividend of $0.15. This represents a $2.16 annualized dividend and a yield of 1.33%. Thomson Reuters's dividend payout ratio is currently 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.