Financiere des Professionnels Fonds d investissement inc. Reduces Stock Position in Thomson Reuters Co. (NYSE:TRI)

Financiere des Professionnels Fonds d investissement inc. cut its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 21.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,575 shares of the business services provider’s stock after selling 1,564 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Thomson Reuters were worth $894,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Thomson Reuters by 0.8% in the third quarter. FMR LLC now owns 7,209,202 shares of the business services provider’s stock valued at $1,229,716,000 after purchasing an additional 57,854 shares during the last quarter. Fiera Capital Corp grew its position in shares of Thomson Reuters by 1.0% in the third quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock valued at $458,559,000 after purchasing an additional 27,714 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Thomson Reuters by 11.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock valued at $439,665,000 after purchasing an additional 255,387 shares during the last quarter. National Bank of Canada FI grew its position in shares of Thomson Reuters by 115.7% in the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock valued at $164,292,000 after purchasing an additional 516,715 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Thomson Reuters by 9.2% in the third quarter. Geode Capital Management LLC now owns 754,630 shares of the business services provider’s stock valued at $130,341,000 after purchasing an additional 63,336 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Stock Down 2.8 %

Shares of TRI opened at $173.93 on Monday. The firm has a market cap of $78.27 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 5.59 and a beta of 0.73. The company’s fifty day moving average is $165.24 and its two-hundred day moving average is $166.02. Thomson Reuters Co. has a fifty-two week low of $149.50 and a fifty-two week high of $179.45. 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) (TSE:TRI) last announced its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.78%. Analysts forecast that Thomson Reuters Co. will post 3.96 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Thursday, February 20th will be issued a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, February 20th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s dividend payout ratio (DPR) is 44.17%.

Wall Street Analyst Weigh In

Several analysts have recently commented on TRI shares. Royal Bank of Canada increased 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. Scotiabank increased their price target on shares of Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group raised their target price on shares of Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. CIBC raised their target price on shares of Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. Finally, StockNews.com upgraded shares of Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Thomson Reuters has a consensus rating of “Hold” and an average target price of $182.09.

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.