Financial Counselors Inc. Sells 87 Shares of Thomson Reuters Co. (NYSE:TRI)

Financial Counselors Inc. trimmed its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,867 shares of the business services provider’s stock after selling 87 shares during the period. Financial Counselors Inc.’s holdings in Thomson Reuters were worth $319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of TRI. Cibc World Market Inc. grew its stake in shares of Thomson Reuters by 26.3% during the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock worth $223,525,000 after acquiring an additional 276,206 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in Thomson Reuters during the second quarter worth $45,514,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Thomson Reuters by 11.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after purchasing an additional 255,387 shares during the last quarter. Toronto Dominion Bank grew 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 purchasing an additional 235,145 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Thomson Reuters in the 3rd quarter valued at $29,250,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TRI shares. Wells Fargo & Company started coverage on Thomson Reuters in a report on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price objective for the company. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Royal Bank of Canada increased their price objective on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday, November 6th. Scotiabank boosted their target price 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 cut shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Thomson Reuters has a consensus rating of “Hold” and an average target price of $175.20.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $162.59 on Friday. The company has a market capitalization of $73.15 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 5.47 and a beta of 0.73. 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 52 week low of $138.80 and a 52 week high of $176.03. The company has a 50-day simple moving average of $166.55 and a 200 day simple moving average of $167.04.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, sell-side analysts predict that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 21st. Thomson Reuters’s dividend payout ratio (DPR) is currently 42.52%.

About Thomson Reuters

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.