Stifel Financial Corp Sells 32,499 Shares of Thomson Reuters Co. (NYSE:TRI)

Stifel Financial Corp cut its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 48.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,361 shares of the business services provider’s stock after selling 32,499 shares during the period. Stifel Financial Corp’s holdings in Thomson Reuters were worth $5,862,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TRI. &PARTNERS bought a new stake in Thomson Reuters in the 2nd quarter valued at $278,000. Aigen Investment Management LP lifted its stake in shares of Thomson Reuters by 87.4% in the third quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider’s stock valued at $1,250,000 after buying an additional 3,417 shares during the period. Meridian Wealth Management LLC acquired a new stake in Thomson Reuters during the third quarter worth about $4,506,000. Icon Wealth Advisors LLC increased its stake in Thomson Reuters by 547.4% during the third quarter. Icon Wealth Advisors LLC now owns 7,943 shares of the business services provider’s stock valued at $1,355,000 after acquiring an additional 6,716 shares during the period. Finally, Toronto Dominion Bank raised its holdings in Thomson Reuters by 87.1% in the 2nd quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock valued at $85,136,000 after acquiring an additional 235,145 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Down 0.6 %

NYSE TRI opened at $168.10 on Friday. The stock’s 50 day simple moving average is $166.14 and its 200 day simple moving average is $166.74. Thomson Reuters Co. has a one year low of $138.83 and a one year high of $176.03. The firm has a market cap of $75.63 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 5.69 and a beta of 0.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts forecast that Thomson Reuters Co. will post 3.69 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a $0.54 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.28%. Thomson Reuters’s payout ratio is currently 42.52%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wells Fargo & Company began coverage on Thomson Reuters in a report on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price objective on the stock. Scotiabank boosted their price target on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. Royal Bank of Canada raised their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Finally, StockNews.com cut shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $175.20.

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.