Thomson Reuters Co. (NYSE:TRI) Stock Holdings Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Thomson Reuters Co. (NYSE:TRI – Get Rating) (TSE:TRI) by 9.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 318,514 shares of the business services provider’s stock after selling 31,825 shares during the quarter. Bank of New York Mellon Corp’s holdings in Thomson Reuters were worth $32,686,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TRI. Hexagon Capital Partners LLC boosted its position in shares of Thomson Reuters by 189.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 336 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 220 shares during the period. Guardian Wealth Advisors LLC purchased a new position in shares of Thomson Reuters in the third quarter worth approximately $37,000. Sentry Investment Management LLC acquired a new stake in shares of Thomson Reuters during the third quarter valued at approximately $44,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Thomson Reuters in the 2nd quarter valued at approximately $55,000. Finally, Pacifica Partners Inc. boosted its stake in Thomson Reuters by 19.7% in the 3rd quarter. Pacifica Partners Inc. now owns 717 shares of the business services provider’s stock worth $75,000 after purchasing an additional 118 shares during the period. 20.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRI. Morgan Stanley raised their price objective on Thomson Reuters from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, February 10th. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Friday. National Bank Financial lowered Thomson Reuters from an “outperform” rating to a “sector perform” rating in a report on Tuesday, February 28th. Exane BNP Paribas downgraded Thomson Reuters from a “neutral” rating to an “underperform” rating in a research note on Thursday, December 1st. Finally, BMO Capital Markets raised their price target on Thomson Reuters from $161.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 14th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $138.00.

Thomson Reuters Stock Up 0.9 %

Shares of Thomson Reuters stock opened at $120.76 on Tuesday. Thomson Reuters Co. has a 12-month low of $91.55 and a 12-month high of $125.32. The stock has a market capitalization of $57.25 billion, a P/E ratio of 41.93, a PEG ratio of 3.04 and a beta of 0.58. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average price of $119.54 and a two-hundred day moving average price of $113.00.

Thomson Reuters (NYSE:TRI – Get Rating) (TSE:TRI) last posted its quarterly earnings data on Thursday, February 9th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.76 billion. Thomson Reuters had a net margin of 21.16% and a return on equity of 9.58%. Thomson Reuters’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. Equities analysts expect that Thomson Reuters Co. will post 3.31 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Thursday, February 23rd will be paid a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, February 22nd. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.32. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.62%. Thomson Reuters’s payout ratio is presently 68.06%.

Thomson Reuters Profile

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Thomson Reuters Corp. engages in the provision of news and information for professional markets. It operates through the following segments: Legal Professionals, Corporates, Tax and Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment provides research and workflow products to law firms and government.