Cumberland Partners Ltd Cuts Position in Thomson Reuters Co. (NYSE:TRI)

Cumberland Partners Ltd lessened its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 0.2% during the fourth quarter, Holdings Channel reports. The fund owned 115,393 shares of the business services provider’s stock after selling 187 shares during the period. Thomson Reuters comprises 1.3% of Cumberland Partners Ltd’s holdings, making the stock its 24th biggest holding. Cumberland Partners Ltd’s holdings in Thomson Reuters were worth $18,487,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Strategic Investment Advisors MI increased its position in shares of Thomson Reuters by 2.7% during the 4th quarter. Strategic Investment Advisors MI now owns 2,318 shares of the business services provider’s stock valued at $372,000 after purchasing an additional 62 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Thomson Reuters by 5.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,196 shares of the business services provider’s stock valued at $192,000 after purchasing an additional 64 shares during the last quarter. SkyView Investment Advisors LLC raised its position in Thomson Reuters by 1.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 4,235 shares of the business services provider’s stock worth $722,000 after purchasing an additional 66 shares during the period. Signaturefd LLC lifted its stake in Thomson Reuters by 1.2% in the third quarter. Signaturefd LLC now owns 7,549 shares of the business services provider’s stock worth $1,288,000 after purchasing an additional 92 shares during the last quarter. Finally, PDS Planning Inc lifted its stake in Thomson Reuters by 5.7% in the third quarter. PDS Planning Inc now owns 2,237 shares of the business services provider’s stock worth $382,000 after purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TRI shares. JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $175.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Canaccord Genuity Group raised their target price on shares of Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Scotiabank upped their price target on shares of Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a report on Friday, February 7th. Finally, CIBC raised their price target on shares of Thomson Reuters from $165.00 to $174.00 in a report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $182.09.

Thomson Reuters Price Performance

Shares of NYSE TRI opened at $172.56 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. Thomson Reuters Co. has a 1 year low of $149.50 and a 1 year high of $179.45. The company’s 50-day moving average is $165.48 and its 200 day moving average is $166.31. The stock has a market capitalization of $77.65 billion, a P/E ratio of 35.29, a P/E/G ratio of 5.57 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. On average, sell-side analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.595 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.38 annualized dividend and a yield of 1.38%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s dividend payout ratio (DPR) is currently 44.17%.

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.