Thomson Reuters Co. (NYSE:TRI) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd trimmed its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 45.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,580 shares of the business services provider's stock after selling 97,592 shares during the quarter. Thomson Reuters comprises 1.4% of Cumberland Partners Ltd's portfolio, making the stock its 24th biggest holding. Cumberland Partners Ltd's holdings in Thomson Reuters were worth $19,733,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Aigen Investment Management LP grew its position in Thomson Reuters by 87.4% during 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 last quarter. Ashton Thomas Securities LLC acquired a new stake in Thomson Reuters in the 3rd quarter worth about $47,000. Axxcess Wealth Management LLC raised its position in Thomson Reuters by 4.6% in the third 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. Assetmark Inc. lifted its position in Thomson Reuters by 1.2% in the third quarter. Assetmark Inc. now owns 74,768 shares of the business services provider's stock valued at $12,755,000 after purchasing an additional 904 shares during the period. Finally, Fiera Capital Corp lifted its holdings in shares of Thomson Reuters by 1.0% during the 3rd quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider's stock valued at $458,559,000 after acquiring an additional 27,714 shares in the last quarter. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Trading Up 0.1 %

Shares of TRI traded up $0.16 on Tuesday, hitting $169.51. 275,255 shares of the stock traded hands, compared to its average volume of 354,030. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $76.26 billion, a P/E ratio of 33.34, a P/E/G ratio of 5.69 and a beta of 0.73. Thomson Reuters Co. has a 1 year low of $130.23 and a 1 year high of $176.03. The stock's 50 day moving average is $168.59 and its two-hundred day moving average is $167.03.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. Thomson Reuters's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. As a group, sell-side analysts predict that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business 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 of this dividend is Thursday, November 21st. This represents a $2.16 annualized dividend and a yield of 1.27%. This is an increase from Thomson Reuters's previous quarterly dividend of $0.15. Thomson Reuters's dividend payout ratio (DPR) is currently 42.52%.

Analyst Ratings Changes

TRI has been the topic of several analyst reports. Scotiabank increased 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 note on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on 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 upped their price target 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. National Bank Financial raised shares of Thomson Reuters from a "sector perform" rating to an "outperform" rating in a report on Monday, September 9th. Finally, StockNews.com downgraded shares of Thomson Reuters from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently 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.