Korea Investment CORP Trims Stock Position in Thomson Reuters Co. $TRI

Korea Investment CORP cut its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 11.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 82,944 shares of the business services provider’s stock after selling 11,178 shares during the quarter. Korea Investment CORP’s holdings in Thomson Reuters were worth $12,882,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. First Trust Advisors LP increased its stake in Thomson Reuters by 312.5% in the 3rd quarter. First Trust Advisors LP now owns 1,074,988 shares of the business services provider’s stock worth $166,976,000 after acquiring an additional 814,393 shares during the last quarter. STF Management LP bought a new stake in shares of Thomson Reuters during the 3rd quarter valued at about $948,000. AustralianSuper Pty Ltd purchased a new position in shares of Thomson Reuters during the third quarter worth about $19,964,000. Victory Capital Management Inc. grew its holdings in shares of Thomson Reuters by 161.2% during the third quarter. Victory Capital Management Inc. now owns 289,747 shares of the business services provider’s stock worth $45,006,000 after purchasing an additional 178,831 shares in the last quarter. Finally, 111 Capital bought a new position in shares of Thomson Reuters in the third quarter worth approximately $2,019,000. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Stock Down 0.6%

Shares of NYSE:TRI opened at $103.11 on Thursday. The stock has a market capitalization of $45.89 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 5.67 and a beta of 0.81. The stock’s 50-day moving average price is $107.64 and its 200-day moving average price is $135.32. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a 12-month low of $79.71 and a 12-month 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, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.Thomson Reuters’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 EPS. On average, equities analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were given a $0.655 dividend. The ex-dividend date was Tuesday, February 17th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.60. This represents a $2.62 annualized dividend and a yield of 2.5%. Thomson Reuters’s dividend payout ratio is presently 78.68%.

Analyst Upgrades and Downgrades

TRI has been the topic of a number of recent analyst reports. Canadian Imperial Bank of Commerce set a $183.00 target price on shares of Thomson Reuters and gave the company an “outperformer” rating in a research note on Friday, January 16th. The Goldman Sachs Group set a $111.00 price target on shares of Thomson Reuters and gave the stock a “buy” rating in a research note on Saturday, February 7th. Scotiabank restated an “outperform” rating and set a $156.00 price objective (down from $189.00) on shares of Thomson Reuters in a research report on Friday, February 6th. Royal Bank Of Canada raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating and set a $126.00 price objective for the company in a report on Tuesday, February 10th. Finally, Morgan Stanley set a $116.00 target price on shares of Thomson Reuters in a research report on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $151.42.

About Thomson Reuters

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.