PFG Investments LLC Sells 434 Shares of Thomson Reuters Co. (NYSE:TRI)

PFG Investments LLC lessened its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 14.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,628 shares of the business services provider’s stock after selling 434 shares during the quarter. PFG Investments LLC’s holdings in Thomson Reuters were worth $421,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. National Bank of Canada FI increased its stake in shares of Thomson Reuters by 115.7% during the 3rd quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock worth $164,292,000 after purchasing an additional 516,715 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Thomson Reuters by 11.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after buying an additional 255,387 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Thomson Reuters by 909.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,993 shares of the business services provider’s stock valued at $35,815,000 after buying an additional 189,199 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Thomson Reuters during the 3rd quarter valued at $29,250,000. Finally, Prana Capital Management LP purchased a new stake in Thomson Reuters in the 3rd quarter worth about $19,143,000. Institutional investors own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

TRI has been the subject of a number of research reports. Scotiabank increased their target price on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. CIBC lifted their price objective on shares of Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Royal Bank of Canada lifted their price target on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company assumed 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. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $176.10.

Thomson Reuters Stock Performance

Shares of TRI opened at $168.97 on Friday. Thomson Reuters Co. has a 12-month low of $148.16 and a 12-month high of $176.03. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The company has a market cap of $76.04 billion, a PE ratio of 33.26, a price-to-earnings-growth ratio of 5.18 and a beta of 0.72. The stock has a 50-day moving average price of $162.95 and a 200-day moving average price of $165.16.

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

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.16 annualized dividend and a yield of 1.28%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s payout ratio is 42.52%.

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.