Ontario Teachers Pension Plan Board Sells 4,334 Shares of Thomson Reuters Co. (NYSE:TRI)

Ontario Teachers Pension Plan Board lessened its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 31.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,589 shares of the business services provider’s stock after selling 4,334 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Thomson Reuters were worth $1,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rothschild Investment LLC bought a new position in Thomson Reuters in the 2nd quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Thomson Reuters by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 80 shares in the last quarter. Asset Dedication LLC boosted its position in shares of Thomson Reuters by 125.0% during the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after buying an additional 130 shares during the last quarter. Clean Yield Group bought a new stake in shares of Thomson Reuters in the 3rd quarter worth $42,000. Finally, Ashton Thomas Securities LLC purchased a new position in Thomson Reuters during the third quarter worth about $47,000. 17.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TRI has been the topic of a number of recent analyst reports. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Royal Bank of Canada raised their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. Scotiabank lifted their target price on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised their price target on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $176.33.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $160.74 on Thursday. The firm has a market cap of $72.32 billion, a P/E ratio of 31.64, a P/E/G ratio of 5.44 and a beta of 0.73. The firm has a 50-day moving average of $167.84 and a 200-day moving average of $167.33. Thomson Reuters Co. has a 1-year low of $137.47 and a 1-year high of $176.03. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates 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 posted $0.82 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts expect that Thomson Reuters Co. will post 3.69 EPS for the current year.

Thomson Reuters Increases Dividend

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