PNC Financial Services Group Inc. Has $1.85 Million Stake in Thomson Reuters Co. (NYSE:TRI)

PNC Financial Services Group Inc. reduced its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 48.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,866 shares of the business services provider’s stock after selling 10,382 shares during the period. PNC Financial Services Group Inc.’s holdings in Thomson Reuters were worth $1,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rothschild Investment LLC bought a new stake in Thomson Reuters during the 2nd quarter worth about $25,000. EverSource Wealth Advisors LLC raised its holdings in Thomson Reuters by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after acquiring an additional 80 shares in the last quarter. Asset Dedication LLC grew its stake in Thomson Reuters by 125.0% in the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 130 shares in the last quarter. Clean Yield Group acquired a new position in shares of Thomson Reuters during the 3rd quarter worth approximately $42,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Thomson Reuters during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of NYSE TRI opened at $160.79 on Wednesday. The business’s 50 day moving average is $166.99 and its 200-day moving average is $167.15. The firm has a market cap of $72.34 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 5.45 and a beta of 0.73. Thomson Reuters Co. has a 1-year low of $138.30 and a 1-year 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.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Equities research analysts predict that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Thursday, November 21st. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio is presently 42.52%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TRI. Scotiabank raised their target price on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Wells Fargo & Company started coverage on shares of Thomson Reuters in a research note on Tuesday. They issued an “equal weight” rating and a $165.00 target price for the company. Royal Bank of Canada boosted their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upped their price objective on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $175.20.

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.