Quantinno Capital Management LP Sells 6,468 Shares of Thomson Reuters Co. (NYSE:TRI)

Quantinno Capital Management LP lessened its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 27.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,271 shares of the business services provider’s stock after selling 6,468 shares during the period. Quantinno Capital Management LP’s holdings in Thomson Reuters were worth $2,949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Prana Capital Management LP bought a new stake in Thomson Reuters during the third quarter worth about $19,143,000. Benjamin Edwards Inc. raised its holdings in Thomson Reuters by 64.5% during the third quarter. Benjamin Edwards Inc. now owns 4,878 shares of the business services provider’s stock worth $833,000 after acquiring an additional 1,913 shares in the last quarter. Point72 Hong Kong Ltd raised its stake in Thomson Reuters by 771.3% in the third quarter. Point72 Hong Kong Ltd now owns 22,175 shares of the business services provider’s stock valued at $3,783,000 after buying an additional 19,630 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Thomson Reuters by 909.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,993 shares of the business services provider’s stock valued at $35,815,000 after buying an additional 189,199 shares during the period. Finally, Verition Fund Management LLC bought a new stake in Thomson Reuters in the third quarter valued at approximately $3,420,000. Institutional investors own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Royal Bank of Canada upped their price objective on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. Scotiabank upped their price objective on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company assumed coverage on Thomson Reuters in a research note on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $175.20.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $169.08 on Tuesday. The company has a market capitalization of $76.07 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 5.77 and a beta of 0.71. Thomson Reuters Co. has a 12 month low of $138.83 and a 12 month high of $176.03. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $166.12 and its 200-day moving average is $166.84.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. Equities research analysts expect that Thomson Reuters Co. will post 3.69 EPS for the current year.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 1.28%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio is currently 42.52%.

Thomson Reuters Profile

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.