Park Avenue Securities LLC Trims Stock Position in Thomson Reuters Co. (NYSE:TRI)

Park Avenue Securities LLC trimmed its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,091 shares of the business services provider’s stock after selling 153 shares during the period. Park Avenue Securities LLC’s holdings in Thomson Reuters were worth $637,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Park National Corp OH purchased a new stake in Thomson Reuters in the first quarter worth about $202,000. Sivia Capital Partners LLC bought a new stake in shares of Thomson Reuters during the fourth quarter valued at approximately $230,000. Vanguard Group Inc. grew its stake in Thomson Reuters by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,698,178 shares of the business services provider’s stock worth $833,188,000 after purchasing an additional 52,138 shares during the period. Goldman Sachs Group Inc. raised its holdings in Thomson Reuters by 53.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 969,443 shares of the business services provider’s stock worth $141,752,000 after purchasing an additional 338,896 shares in the last quarter. Finally, FIL Ltd boosted its holdings in shares of Thomson Reuters by 9.8% during the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after buying an additional 445,444 shares in the last quarter. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of NYSE:TRI opened at $170.49 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $76.66 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 6.42 and a beta of 0.71. The business has a 50-day simple moving average of $165.89 and a two-hundred day simple moving average of $156.48. Thomson Reuters Co. has a fifty-two week low of $117.46 and a fifty-two week high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, analysts expect that Thomson Reuters Co. will post 3.67 earnings per share for the current year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Wednesday, May 15th. Thomson Reuters’s payout ratio is currently 40.57%.

Analyst Upgrades and Downgrades

TRI has been the subject of a number of recent research reports. Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $150.00 to $180.00 in a research report on Thursday, March 14th. National Bank Financial upgraded Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, April 23rd. UBS Group lifted their price objective on Thomson Reuters from $177.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Canaccord Genuity Group increased their target price on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Finally, CIBC lifted their price target on Thomson Reuters from $152.00 to $156.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Thomson Reuters presently has an average rating of “Hold” and an average target price of $170.64.

Thomson Reuters 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.