PNC Financial Services Group Inc. Trims Stake in Thomson Reuters Co. (NYSE:TRI)

PNC Financial Services Group Inc. lessened its holdings in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 48.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,866 shares of the business services provider's stock after selling 10,382 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Thomson Reuters were worth $1,854,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TRI. Advisors Asset Management Inc. boosted its holdings in Thomson Reuters by 103.7% during the 1st quarter. Advisors Asset Management Inc. now owns 2,261 shares of the business services provider's stock worth $352,000 after acquiring an additional 1,151 shares during the last quarter. Janus Henderson Group PLC raised its stake in Thomson Reuters by 23.8% in the 1st quarter. Janus Henderson Group PLC now owns 16,770 shares of the business services provider's stock valued at $2,612,000 after acquiring an additional 3,223 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Thomson Reuters by 6.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 5,338 shares of the business services provider's stock valued at $832,000 after purchasing an additional 324 shares during the last quarter. Atria Investments Inc bought a new position in Thomson Reuters during the first quarter worth about $1,006,000. Finally, Cetera Advisors LLC increased its stake in shares of Thomson Reuters by 12.0% in the first quarter. Cetera Advisors LLC now owns 3,172 shares of the business services provider's stock worth $494,000 after purchasing an additional 341 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Thomson Reuters Trading Up 0.0 %

Shares of TRI opened at $160.79 on Wednesday. The firm has a market cap of $72.34 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 5.44 and a beta of 0.73. The company has a 50 day simple moving average of $166.99 and a two-hundred day simple moving average of $167.15. Thomson Reuters Co. has a 1 year low of $138.30 and a 1 year high of $176.03. 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 (NYSE:TRI - Get Free Report) TSE: TRI last issued its earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share (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 firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.71 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The business's revenue was up 8.2% compared to the same quarter last year. On average, equities analysts expect that Thomson Reuters Co. will post 3.69 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

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

Wall Street Analysts Forecast Growth

TRI has been the subject of a number of recent research reports. Wells Fargo & Company started coverage on shares of Thomson Reuters in a research note on Tuesday. They issued an "equal weight" rating and a $165.00 price objective for the company. Royal Bank of Canada lifted 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. JPMorgan Chase & Co. boosted their price objective 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. Scotiabank raised their price target on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a "sector outperform" rating in a report on Wednesday, November 6th. Finally, StockNews.com lowered Thomson Reuters from a "hold" rating to a "sell" rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target 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.