Park Avenue Securities LLC Has $259,000 Stock Position in Thomson Reuters Co. (NYSE:TRI)

Park Avenue Securities LLC lowered its stake in Thomson Reuters Co. (NYSE:TRIGet Rating) (TSE:TRI) by 13.6% during the third quarter, HoldingsChannel.com reports. The firm owned 2,520 shares of the business services provider’s stock after selling 398 shares during the period. Park Avenue Securities LLC’s holdings in Thomson Reuters were worth $259,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TRI. Cigna Investments Inc. New raised its stake in Thomson Reuters by 2.9% during the 2nd quarter. Cigna Investments Inc. New now owns 3,237 shares of the business services provider’s stock worth $337,000 after buying an additional 90 shares during the period. Pacifica Partners Inc. raised its stake in Thomson Reuters by 19.7% during the 3rd quarter. Pacifica Partners Inc. now owns 717 shares of the business services provider’s stock worth $75,000 after buying an additional 118 shares during the period. Cetera Advisor Networks LLC raised its stake in Thomson Reuters by 7.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,945 shares of the business services provider’s stock worth $212,000 after buying an additional 128 shares during the period. Glassman Wealth Services raised its stake in Thomson Reuters by 64.1% during the 2nd quarter. Glassman Wealth Services now owns 343 shares of the business services provider’s stock worth $36,000 after buying an additional 134 shares during the period. Finally, Parallel Advisors LLC raised its stake in Thomson Reuters by 6.4% during the 2nd quarter. Parallel Advisors LLC now owns 2,448 shares of the business services provider’s stock worth $255,000 after buying an additional 148 shares during the period. Institutional investors and hedge funds own 20.84% of the company’s stock.

Thomson Reuters Price Performance

Shares of NYSE TRI opened at $117.40 on Tuesday. The stock has a market capitalization of $55.89 billion, a price-to-earnings ratio of 60.83, a PEG ratio of 3.07 and a beta of 0.59. The business has a 50-day moving average of $115.10 and a 200-day moving average of $110.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.68 and a quick ratio of 0.68. Thomson Reuters Co. has a fifty-two week low of $91.55 and a fifty-two week high of $119.87.

Thomson Reuters (NYSE:TRIGet Rating) (TSE:TRI) last announced its quarterly earnings data on Tuesday, November 1st. The business services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. Thomson Reuters had a return on equity of 8.10% and a net margin of 14.38%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.59 billion. As a group, sell-side analysts predict that Thomson Reuters Co. will post 2.47 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, November 17th were issued a dividend of $0.322 per share. This represents a $1.29 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Wednesday, November 16th. Thomson Reuters’s payout ratio is currently 92.23%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Exane BNP Paribas downgraded Thomson Reuters from a “neutral” rating to an “underperform” rating in a research note on Thursday, December 1st. Morgan Stanley increased their target price on Thomson Reuters from $108.00 to $111.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 4th. Barclays increased their target price on Thomson Reuters from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, December 2nd. Scotiabank reiterated a “sector perform” rating and set a $126.00 target price on shares of Thomson Reuters in a report on Monday, December 19th. Finally, The Goldman Sachs Group increased their target price on Thomson Reuters from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Tuesday, January 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five 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 $131.11.

Thomson Reuters Profile

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Thomson Reuters Corporation provides 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.

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Institutional Ownership by Quarter for Thomson Reuters (NYSE:TRI)

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