Thomson Reuters Co. (NYSE:TRI) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. trimmed its holdings in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 81.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,700 shares of the business services provider's stock after selling 213,800 shares during the period. Point72 Asset Management L.P.'s holdings in Thomson Reuters were worth $8,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. &PARTNERS acquired a new position in Thomson Reuters in the second quarter valued at approximately $278,000. Aigen Investment Management LP grew its position 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 valued at $1,250,000 after buying an additional 3,417 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in Thomson Reuters during the 3rd quarter worth $4,506,000. Toronto Dominion Bank lifted its position in Thomson Reuters by 87.1% in the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider's stock valued at $85,136,000 after acquiring an additional 235,145 shares during the last quarter. Finally, Icon Wealth Advisors LLC boosted its position in shares of Thomson Reuters by 547.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 7,943 shares of the business services provider's stock valued at $1,355,000 after purchasing an additional 6,716 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TRI has been the subject of a number of research reports. Royal Bank of Canada boosted their price objective on Thomson Reuters from $171.00 to $173.00 and gave the company a "sector perform" rating in a research note on Wednesday, November 6th. Wells Fargo & Company started coverage on shares of Thomson Reuters in a research note on Tuesday, November 26th. They set an "equal weight" rating and a $165.00 price target for the company. National Bank Financial upgraded shares of Thomson Reuters from a "sector perform" rating to an "outperform" rating in a research note on Monday, September 9th. StockNews.com upgraded shares of Thomson Reuters from a "sell" rating to a "hold" rating in a research note on Monday, December 2nd. Finally, Scotiabank raised their price target on Thomson Reuters from $182.00 to $187.00 and gave the stock a "sector outperform" rating in a report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Thomson Reuters currently has an average rating of "Hold" and a consensus price target of $175.20.

Thomson Reuters Price Performance

Thomson Reuters stock traded up $1.45 during midday trading on Friday, reaching $170.56. The company's stock had a trading volume of 364,365 shares, compared to its average volume of 291,755. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. Thomson Reuters Co. has a fifty-two week low of $138.83 and a fifty-two week high of $176.03. The firm has a market capitalization of $76.74 billion, a PE ratio of 33.57, a P/E/G ratio of 5.70 and a beta of 0.71. The stock's 50 day simple moving average is $166.15 and its 200 day simple moving average is $166.87.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping 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 firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. On average, equities research analysts forecast that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from Thomson Reuters's previous quarterly dividend of $0.15. Thomson Reuters's dividend payout ratio is currently 42.52%.

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.