Bank of New York Mellon Corp Sells 38,100 Shares of Thomson Reuters Co. (NYSE:TRI)

Bank of New York Mellon Corp reduced its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 15.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 203,985 shares of the business services provider’s stock after selling 38,100 shares during the quarter. Bank of New York Mellon Corp’s holdings in Thomson Reuters were worth $32,715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its position in shares of Thomson Reuters by 67.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 496 shares of the business services provider’s stock valued at $85,000 after acquiring an additional 200 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Thomson Reuters by 5.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 7,146 shares of the business services provider’s stock valued at $1,219,000 after acquiring an additional 369 shares during the period. QRG Capital Management Inc. lifted its position in shares of Thomson Reuters by 10.0% during the 3rd quarter. QRG Capital Management Inc. now owns 1,739 shares of the business services provider’s stock valued at $297,000 after acquiring an additional 158 shares during the period. Fiera Capital Corp lifted its position in shares of Thomson Reuters by 1.0% during the 3rd quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock valued at $458,559,000 after acquiring an additional 27,714 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Thomson Reuters by 1.2% during the 3rd quarter. Assetmark Inc. now owns 74,768 shares of the business services provider’s stock valued at $12,755,000 after acquiring an additional 904 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. CIBC upped their target price on Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. Canaccord Genuity Group boosted their price target on Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Wells Fargo & Company boosted their price target on Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their price target on Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters presently has a consensus rating of “Hold” and a consensus target price of $182.09.

Thomson Reuters Stock Performance

Shares of TRI opened at $177.66 on Friday. The business’s fifty day simple moving average is $168.49 and its two-hundred day simple moving average is $167.59. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a 12 month low of $149.50 and a 12 month high of $180.42. The company has a market cap of $79.96 billion, a price-to-earnings ratio of 36.33, a P/E/G ratio of 5.67 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. Research analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.595 per share. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.34%. Thomson Reuters’s dividend payout ratio (DPR) is presently 48.67%.

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.