Gulf International Bank UK Ltd Lowers Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Gulf International Bank UK Ltd lessened its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 59.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 461 shares of the business services provider’s stock after selling 688 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Thomson Reuters were worth $78,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. PDS Planning Inc lifted its position in shares of Thomson Reuters by 5.7% during the third quarter. PDS Planning Inc now owns 2,237 shares of the business services provider’s stock worth $382,000 after purchasing an additional 121 shares in the last quarter. QRG Capital Management Inc. increased its stake in Thomson Reuters by 10.0% during the 3rd quarter. QRG Capital Management Inc. now owns 1,739 shares of the business services provider’s stock worth $297,000 after buying an additional 158 shares during the period. Intact Investment Management Inc. acquired a new stake in Thomson Reuters during the 3rd quarter worth approximately $155,000. Janney Montgomery Scott LLC boosted its position in Thomson Reuters by 5.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 7,146 shares of the business services provider’s stock valued at $1,219,000 after buying an additional 369 shares during the period. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Thomson Reuters by 15.5% in the third quarter. First Trust Direct Indexing L.P. now owns 5,137 shares of the business services provider’s stock worth $876,000 after acquiring an additional 690 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

NYSE TRI opened at $168.23 on Friday. The company has a fifty day moving average of $168.63 and a two-hundred day moving average of $166.72. The company has a market capitalization of $75.68 billion, a PE ratio of 33.12, a P/E/G ratio of 5.59 and a beta of 0.73. Thomson Reuters Co. has a 1 year low of $129.02 and a 1 year high of $176.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.88.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released 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. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the business posted $0.82 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, analysts expect that Thomson Reuters Co. will post 3.71 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be paid 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 a boost from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio is currently 42.52%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Royal Bank of Canada increased 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. JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Wednesday. Scotiabank lifted their price target on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. Finally, National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $176.33.

Thomson Reuters Company 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.