Cibc World Market Inc. Sells 88,630 Shares of Thomson Reuters Co. $TRI

Cibc World Market Inc. decreased its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 7.6% during the third quarter, HoldingsChannel.com reports. The fund owned 1,071,204 shares of the business services provider’s stock after selling 88,630 shares during the period. Cibc World Market Inc.’s holdings in Thomson Reuters were worth $166,298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Curio Wealth LLC boosted its position in Thomson Reuters by 16,200.0% during the second quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock worth $33,000 after purchasing an additional 162 shares during the period. Westside Investment Management Inc. bought a new position in shares of Thomson Reuters in the second quarter valued at approximately $34,000. Ameritas Advisory Services LLC acquired a new stake in shares of Thomson Reuters in the second quarter worth $37,000. AlphaCore Capital LLC acquired a new stake in shares of Thomson Reuters in the second quarter worth $39,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of Thomson Reuters by 50.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock worth $39,000 after buying an additional 83 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRI has been the topic of several recent analyst reports. The Goldman Sachs Group set a $111.00 target price on shares of Thomson Reuters and gave the stock a “buy” rating in a report on Saturday. BMO Capital Markets set a $165.00 price target on Thomson Reuters in a research report on Friday. Canaccord Genuity Group dropped their price objective on Thomson Reuters from $174.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Canadian Imperial Bank of Commerce set a $183.00 target price on Thomson Reuters and gave the company an “outperformer” rating in a research note on Friday, January 16th. Finally, Huber Research raised Thomson Reuters to an “overweight” rating in a report on Monday, October 20th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.42.

Thomson Reuters Stock Up 1.7%

Shares of TRI opened at $90.86 on Wednesday. The company has a 50-day simple moving average of $123.11 and a 200-day simple moving average of $148.09. The firm has a market capitalization of $40.43 billion, a P/E ratio of 18.58, a P/E/G ratio of 5.67 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. Thomson Reuters Co. has a 52 week low of $85.02 and a 52 week high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Thursday, February 5th. The business services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the business earned $1.01 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research 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 Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.60. Thomson Reuters’s payout ratio is 78.68%.

Thomson Reuters Company Profile

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.