TD Asset Management Inc Lowers Stock Position in Thomson Reuters Co. $TRI

TD Asset Management Inc cut its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 18.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,630,954 shares of the business services provider’s stock after selling 1,050,515 shares during the period. TD Asset Management Inc owned approximately 1.04% of Thomson Reuters worth $719,239,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. TLT Family Holdco ULC purchased a new position in shares of Thomson Reuters during the 2nd quarter worth approximately $865,442,000. LCC Family Corp. acquired a new position in Thomson Reuters during the second quarter worth $813,253,000. SEG Family Corp. purchased a new position in shares of Thomson Reuters during the second quarter worth $659,930,000. Norges Bank acquired a new stake in shares of Thomson Reuters in the second quarter valued at $275,036,000. Finally, HRT Financial LP raised its holdings in shares of Thomson Reuters by 115.4% in the 2nd quarter. HRT Financial LP now owns 1,388,588 shares of the business services provider’s stock valued at $279,286,000 after buying an additional 743,923 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Stock Up 11.4%

Shares of NYSE:TRI opened at $90.09 on Wednesday. Thomson Reuters Co. has a fifty-two week low of $79.71 and a fifty-two week high of $218.42. The firm’s 50 day moving average price is $113.92 and its 200 day moving average price is $140.41. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a market cap of $40.09 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 5.67 and a beta of 0.79.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, February 5th. The business services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be paid a $0.655 dividend. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.60. This represents a $2.62 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, February 17th. Thomson Reuters’s payout ratio is 78.68%.

Wall Street Analysts Forecast Growth

TRI has been the subject of a number of research analyst reports. The Goldman Sachs Group set a $111.00 target price on Thomson Reuters and gave the company a “buy” rating in a report on Saturday, February 7th. UBS Group set a $131.50 price target on shares of Thomson Reuters in a research report on Friday, February 6th. Scotiabank restated an “outperform” rating and issued a $156.00 price objective (down from $189.00) on shares of Thomson Reuters in a report on Friday, February 6th. Canadian Imperial Bank of Commerce set a $183.00 target price on shares of Thomson Reuters and gave the stock an “outperformer” rating in a research note on Friday, January 16th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $156.42.

Thomson Reuters 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.