M&T Bank Corp Sells 24,459 Shares of Thomson Reuters Co. (NYSE:TRI)

M&T Bank Corp reduced its stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 87.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,646 shares of the business services provider's stock after selling 24,459 shares during the quarter. M&T Bank Corp's holdings in Thomson Reuters were worth $622,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new position in shares of Thomson Reuters in the 2nd quarter valued at about $25,000. Asset Dedication LLC grew its stake in Thomson Reuters by 125.0% in the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider's stock valued at $40,000 after purchasing an additional 130 shares in the last quarter. Clean Yield Group acquired a new position in shares of Thomson Reuters during the 3rd quarter worth approximately $42,000. Ashton Thomas Securities LLC bought a new stake in shares of Thomson Reuters during the 3rd quarter worth approximately $47,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Thomson Reuters by 104.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider's stock valued at $56,000 after buying an additional 167 shares during the last quarter. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Trading Down 1.1 %

Thomson Reuters stock traded down $1.81 during trading hours on Wednesday, hitting $164.43. The stock had a trading volume of 322,369 shares, compared to its average volume of 348,731. The business's 50 day simple moving average is $166.13 and its 200-day simple moving average is $166.66. Thomson Reuters Co. has a one year low of $140.33 and a one year high of $176.03. The stock has a market cap of $73.98 billion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 5.69 and a beta of 0.71. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business earned $0.82 EPS. The firm's quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts predict that Thomson Reuters Co. will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Thomson Reuters's previous quarterly dividend of $0.15. Thomson Reuters's payout ratio is 42.52%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. 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 research report on Wednesday, November 6th. StockNews.com cut shares of Thomson Reuters from a "hold" rating to a "sell" rating in a research note on Tuesday, December 10th. Wells Fargo & Company initiated coverage on Thomson Reuters in a research note on Tuesday, November 26th. They set an "equal weight" rating and a $165.00 target price for the company. National Bank Financial upgraded Thomson Reuters from a "sector perform" rating to an "outperform" rating in a research note on Monday, September 9th. Finally, Scotiabank upped their price objective on Thomson Reuters from $182.00 to $187.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $175.20.

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.