Capital Investment Counsel LLC Has $10.56 Million Holdings in Thomson Reuters Co. (NYSE:TRI)

Capital Investment Counsel LLC trimmed its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,922 shares of the business services provider’s stock after selling 567 shares during the period. Thomson Reuters makes up about 1.8% of Capital Investment Counsel LLC’s investment portfolio, making the stock its 12th biggest position. Capital Investment Counsel LLC’s holdings in Thomson Reuters were worth $10,564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of TRI. Rothschild Investment LLC acquired a new position in Thomson Reuters during the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC raised its position in shares of Thomson Reuters by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after acquiring an additional 80 shares during the last quarter. Asset Dedication LLC lifted its stake in shares of Thomson Reuters by 125.0% during the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 130 shares during the period. Clean Yield Group bought a new position in Thomson Reuters in the third quarter valued at about $42,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Thomson Reuters in the third quarter worth about $47,000. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Stock Performance

TRI stock opened at $161.20 on Friday. Thomson Reuters Co. has a 1-year low of $138.09 and a 1-year high of $176.03. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm has a market cap of $72.53 billion, a PE ratio of 31.73, a P/E/G ratio of 5.47 and a beta of 0.73. The business’s 50-day moving average price is $167.38 and its two-hundred day moving average price is $167.25.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, beating 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 business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $0.82 EPS. Thomson Reuters’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts forecast that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on TRI shares. Royal Bank of Canada raised 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 note on Wednesday, November 6th. Scotiabank raised their price objective on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. StockNews.com lowered Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Thomson Reuters has an average rating of “Hold” and a consensus target price of $176.33.

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.