Cumberland Partners Ltd Has $19.73 Million Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Cumberland Partners Ltd decreased its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 45.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 115,580 shares of the business services provider’s stock after selling 97,592 shares during the period. Thomson Reuters comprises 1.4% of Cumberland Partners Ltd’s portfolio, making the stock its 24th biggest position. Cumberland Partners Ltd’s holdings in Thomson Reuters were worth $19,733,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Blair William & Co. IL boosted its position in Thomson Reuters by 3.0% during the second quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock valued at $385,000 after purchasing an additional 66 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Thomson Reuters by 1.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock worth $1,252,000 after purchasing an additional 74 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Thomson Reuters by 4.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock valued at $277,000 after buying an additional 75 shares during the last quarter. Avitas Wealth Management LLC grew its stake in shares of Thomson Reuters by 0.4% in the second quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock valued at $3,508,000 after buying an additional 79 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Thomson Reuters by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after acquiring an additional 80 shares in the last quarter. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Trading Down 0.8 %

Shares of TRI stock traded down $1.43 during mid-day trading on Tuesday, reaching $167.92. 11,867 shares of the stock traded hands, compared to its average volume of 352,808. The stock’s fifty day simple moving average is $168.59 and its two-hundred day simple moving average is $167.03. The company has a market cap of $75.54 billion, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 5.69 and a beta of 0.73. Thomson Reuters Co. has a 1-year low of $130.23 and a 1-year high of $176.03. The company has a quick ratio of 0.88, 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 data 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 company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts anticipate that Thomson Reuters Co. will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.16 dividend on an annualized basis and a yield of 1.29%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio is 42.52%.

Wall Street Analysts Forecast Growth

TRI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price 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. Scotiabank lifted their price objective 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. 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. StockNews.com cut Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, 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 note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Thomson Reuters currently has an average rating of “Hold” and an average target price of $176.33.

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.