Fmr LLC Cuts Stock Position in Thomson Reuters Co. (NYSE:TRI)

Fmr LLC cut its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 14.5% in the 4th quarter, HoldingsChannel reports. The firm owned 6,166,904 shares of the business services provider’s stock after selling 1,042,298 shares during the quarter. Fmr LLC’s holdings in Thomson Reuters were worth $990,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Aviva PLC increased its holdings in Thomson Reuters by 1,608.4% during the fourth quarter. Aviva PLC now owns 94,302 shares of the business services provider’s stock worth $15,112,000 after buying an additional 88,782 shares during the last quarter. ExodusPoint Capital Management LP increased its stake in shares of Thomson Reuters by 141.4% during the 4th quarter. ExodusPoint Capital Management LP now owns 22,700 shares of the business services provider’s stock worth $3,641,000 after purchasing an additional 13,298 shares during the last quarter. Huntington National Bank raised its holdings in shares of Thomson Reuters by 20.7% in the 4th quarter. Huntington National Bank now owns 1,333 shares of the business services provider’s stock worth $214,000 after purchasing an additional 229 shares during the period. Trexquant Investment LP lifted its stake in Thomson Reuters by 4.6% in the fourth quarter. Trexquant Investment LP now owns 71,859 shares of the business services provider’s stock valued at $11,525,000 after purchasing an additional 3,161 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Thomson Reuters by 74.3% during the fourth quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider’s stock valued at $214,236,000 after purchasing an additional 560,450 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on TRI. Canaccord Genuity Group upped their price target on Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a research report on Friday, February 7th. CIBC increased their target price on shares of Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. Scotiabank boosted their price target on shares of Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group raised their price objective on shares of Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company increased their target price on Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $177.56.

Thomson Reuters Stock Down 2.0 %

TRI stock opened at $162.65 on Tuesday. The company’s 50 day moving average is $173.26 and its 200 day moving average is $167.91. The stock has a market cap of $73.21 billion, a price-to-earnings ratio of 33.26, a price-to-earnings-growth ratio of 5.67 and a beta of 0.70. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a 1-year low of $149.50 and a 1-year high of $180.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Sell-side analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 20th were given a dividend of $0.595 per share. The ex-dividend date was Thursday, February 20th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. This represents a $2.38 annualized dividend and a dividend yield of 1.46%. Thomson Reuters’s dividend payout ratio is 48.67%.

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.