Sumitomo Mitsui Trust Holdings Inc. Sells 16,913 Shares of Thomson Reuters Co. (NYSE:TRI)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 3.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 418,179 shares of the business services provider’s stock after selling 16,913 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Thomson Reuters were worth $65,119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Schonfeld Strategic Advisors LLC bought a new position in shares of Thomson Reuters in the 3rd quarter worth $709,000. Glenmede Trust Co. NA purchased a new position in shares of Thomson Reuters during the third quarter worth approximately $1,084,000. Legal & General Group Plc lifted its holdings in shares of Thomson Reuters by 6,607,664.7% in the 3rd quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock worth $138,048,000 after acquiring an additional 1,123,303 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Thomson Reuters by 5.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 3,492 shares of the business services provider’s stock valued at $427,000 after purchasing an additional 173 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in shares of Thomson Reuters during the 3rd quarter valued at $27,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of NYSE TRI opened at $169.16 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. Thomson Reuters Co. has a 1 year low of $117.46 and a 1 year high of $176.03. The company’s 50-day moving average is $168.17 and its 200 day moving average is $157.71. The stock has a market capitalization of $76.06 billion, a P/E ratio of 32.22, a P/E/G ratio of 6.43 and a beta of 0.72.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.17. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. On average, sell-side 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. Shareholders of record on Thursday, May 16th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.28%. The ex-dividend date was Wednesday, May 15th. Thomson Reuters’s dividend payout ratio is currently 40.57%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. CIBC upped their price target on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Canaccord Genuity Group lifted their price target on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. TD Securities increased their price objective on Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, March 13th. UBS Group lifted their target price on shares of Thomson Reuters from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada increased their price target on shares of Thomson Reuters from $153.00 to $156.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 30th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $170.64.

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.