Thomson Reuters Co. (NYSE:TRI) Stake Lowered by M&T Bank Corp

M&T Bank Corp cut its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 21.8% in the 4th quarter, Holdings Channel reports. The firm owned 2,851 shares of the business services provider’s stock after selling 795 shares during the quarter. M&T Bank Corp’s holdings in Thomson Reuters were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Strategic Investment Advisors MI grew its holdings in shares of Thomson Reuters by 2.7% during the fourth quarter. Strategic Investment Advisors MI now owns 2,318 shares of the business services provider’s stock valued at $372,000 after purchasing an additional 62 shares during the last quarter. NewSquare Capital LLC boosted its position in shares of Thomson Reuters by 1.5% during the fourth quarter. NewSquare Capital LLC now owns 4,335 shares of the business services provider’s stock worth $695,000 after buying an additional 62 shares during the period. Pacer Advisors Inc. boosted its position in shares of Thomson Reuters by 5.7% during the fourth quarter. Pacer Advisors Inc. now owns 1,196 shares of the business services provider’s stock worth $192,000 after buying an additional 64 shares during the period. SkyView Investment Advisors LLC boosted its position in shares of Thomson Reuters by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 4,235 shares of the business services provider’s stock worth $722,000 after buying an additional 66 shares during the period. Finally, Addison Advisors LLC boosted its position in shares of Thomson Reuters by 5.7% during the fourth quarter. Addison Advisors LLC now owns 1,271 shares of the business services provider’s stock worth $204,000 after buying an additional 68 shares during the period. 17.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TRI has been the subject of several analyst reports. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Thursday, March 6th. Canaccord Genuity Group boosted their price objective on Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted their price objective on Thomson Reuters from $175.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Wells Fargo & Company boosted their price objective on Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, CIBC upped their target price on Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Thomson Reuters currently has an average rating of “Hold” and an average target price of $177.80.

Thomson Reuters Stock Performance

TRI opened at $170.01 on Friday. The company has a market capitalization of $76.51 billion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 5.67 and a beta of 0.70. Thomson Reuters Co. has a 1-year low of $149.50 and a 1-year high of $180.42. The business has a 50 day moving average price of $169.35 and a two-hundred day moving average price of $167.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. Research analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were issued a $0.595 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.38 annualized dividend and a dividend yield of 1.40%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s dividend payout ratio is currently 48.67%.

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.