Thomson Reuters Co. (NYSE:TRI) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 87.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,646 shares of the business services provider’s stock after selling 24,459 shares during the period. M&T Bank Corp’s holdings in Thomson Reuters were worth $622,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Rothschild Investment LLC acquired a new stake in Thomson Reuters during the 2nd quarter worth $25,000. Asset Dedication LLC lifted its holdings in shares of Thomson Reuters by 125.0% in the 3rd 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 during the last quarter. Clean Yield Group purchased a new stake in shares of Thomson Reuters in the 3rd quarter valued at about $42,000. Ashton Thomas Securities LLC acquired a new stake in shares of Thomson Reuters in the 3rd quarter valued at about $47,000. Finally, Exchange Traded Concepts LLC grew its stake in Thomson Reuters by 104.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock worth $56,000 after buying an additional 167 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Scotiabank boosted their price objective on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their price target on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Wells Fargo & Company initiated coverage on shares of Thomson Reuters in a report on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 target price for the company. Finally, National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $175.20.

Thomson Reuters Trading Down 0.5 %

NYSE TRI opened at $166.20 on Wednesday. Thomson Reuters Co. has a 52-week low of $138.85 and a 52-week high of $176.03. The firm has a 50-day moving average price of $166.13 and a 200 day moving average price of $166.66. The stock has a market capitalization of $74.78 billion, a P/E ratio of 32.72, a P/E/G ratio of 5.69 and a beta of 0.71. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results 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 business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the firm earned $0.82 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts expect that Thomson Reuters Co. will post 3.69 EPS for the current year.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Thursday, November 21st. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio (DPR) is currently 42.52%.

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.