Avior Wealth Management LLC Trims Stake in Thomson Reuters Co. (NYSE:TRI)

Avior Wealth Management LLC lowered its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 63.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 242 shares of the business services provider’s stock after selling 423 shares during the quarter. Avior Wealth Management LLC’s holdings in Thomson Reuters were worth $41,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRI. Cibc World Market Inc. raised its holdings in shares of Thomson Reuters by 26.3% in the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock valued at $223,525,000 after acquiring an additional 276,206 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in Thomson Reuters in the second quarter valued at approximately $45,514,000. Toronto Dominion Bank lifted its position in Thomson Reuters by 87.1% during the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock valued at $85,136,000 after purchasing an additional 235,145 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Thomson Reuters in the 3rd quarter worth approximately $29,250,000. Finally, Millennium Management LLC increased its holdings in shares of Thomson Reuters by 179.5% in the 2nd quarter. Millennium Management LLC now owns 243,524 shares of the business services provider’s stock worth $41,033,000 after buying an additional 156,410 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Down 0.3 %

Shares of NYSE:TRI opened at $160.72 on Tuesday. The stock’s 50-day moving average is $167.14 and its 200 day moving average is $167.20. The company has a market cap of $72.31 billion, a PE ratio of 31.64, a P/E/G ratio of 5.45 and a beta of 0.73. 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 Co. has a 1 year low of $138.30 and a 1 year high of $176.03.

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 (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 for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that Thomson Reuters Co. will post 3.69 EPS for the current year.

Thomson Reuters Increases Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Royal Bank of Canada upped their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. Scotiabank lifted 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. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $176.33.

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.