Amundi Decreases Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Amundi cut its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 18.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 322,728 shares of the business services provider’s stock after selling 74,295 shares during the period. Amundi’s holdings in Thomson Reuters were worth $51,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Meridian Wealth Management LLC purchased a new stake in shares of Thomson Reuters in the 3rd quarter worth about $4,506,000. Atomi Financial Group Inc. lifted its holdings in shares of Thomson Reuters by 16.1% in the fourth quarter. Atomi Financial Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $292,000 after purchasing an additional 252 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Thomson Reuters by 52.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock valued at $185,011,000 after purchasing an additional 395,481 shares in the last quarter. Icon Wealth Advisors LLC grew its position in shares of Thomson Reuters by 547.4% in the third quarter. Icon Wealth Advisors LLC now owns 7,943 shares of the business services provider’s stock valued at $1,355,000 after purchasing an additional 6,716 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new position in shares of Thomson Reuters during the 3rd quarter worth approximately $2,127,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Scotiabank upped their price objective on Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group lifted their price objective on Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upped their target price on shares of Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, CIBC lifted their price target on shares of Thomson Reuters from $165.00 to $174.00 in a report on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters currently has an average rating of “Hold” and an average target price of $182.09.

Thomson Reuters Price Performance

TRI opened at $171.02 on Thursday. Thomson Reuters Co. has a 1 year low of $149.50 and a 1 year high of $180.42. The company’s 50 day simple moving average is $169.18 and its 200 day simple moving average is $167.75. The stock has a market capitalization of $76.97 billion, a PE ratio of 34.97, a P/E/G ratio of 5.67 and a beta of 0.70. 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 (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. As a group, sell-side analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.595 per share. The ex-dividend date was Thursday, February 20th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. This represents a $2.38 annualized dividend and a yield of 1.39%. Thomson Reuters’s dividend payout ratio is currently 48.67%.

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.