Citigroup Inc. Sells 4,997 Shares of Thomson Reuters Co. (NYSE:TRI)

Citigroup Inc. reduced its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 6.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,047 shares of the business services provider’s stock after selling 4,997 shares during the period. Citigroup Inc.’s holdings in Thomson Reuters were worth $12,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TD Asset Management Inc increased its position in Thomson Reuters by 0.7% in the 2nd quarter. TD Asset Management Inc now owns 4,074,256 shares of the business services provider’s stock valued at $686,640,000 after acquiring an additional 26,483 shares during the period. Fiera Capital Corp grew its stake in shares of Thomson Reuters by 1.0% in the third quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock worth $458,559,000 after purchasing an additional 27,714 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 valued at $439,665,000 after purchasing an additional 255,387 shares during the period. Clearbridge Investments LLC raised its position in Thomson Reuters by 9.4% during the 2nd quarter. Clearbridge Investments LLC now owns 1,458,700 shares of the business services provider’s stock worth $245,893,000 after purchasing an additional 125,167 shares during the last quarter. Finally, Cibc World Market Inc. lifted its holdings in Thomson Reuters by 26.3% during the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock worth $223,525,000 after buying an additional 276,206 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Shares of TRI opened at $161.70 on Friday. The stock has a 50-day moving average of $166.69 and a 200-day moving average of $167.08. Thomson Reuters Co. has a one year low of $138.57 and a one year high of $176.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $72.75 billion, a PE ratio of 31.83, a P/E/G ratio of 5.44 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating 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 firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts predict that Thomson Reuters Co. will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

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

Analyst Upgrades and Downgrades

TRI has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company assumed coverage on shares of Thomson Reuters in a report on Tuesday. They set an “equal weight” rating and a $165.00 price target for the company. Scotiabank upped their price objective 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. StockNews.com downgraded shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada increased their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $175.20.

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.