Thomson Reuters Co. $TRI Shares Sold by Capital Investment Counsel LLC

Capital Investment Counsel LLC reduced its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 12.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 47,367 shares of the business services provider’s stock after selling 6,829 shares during the quarter. Capital Investment Counsel LLC’s holdings in Thomson Reuters were worth $7,358,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TRI. Curio Wealth LLC raised its position in shares of Thomson Reuters by 16,200.0% in the 2nd quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 162 shares during the last quarter. Westside Investment Management Inc. purchased a new position in shares of Thomson Reuters in the second quarter worth $34,000. AlphaCore Capital LLC purchased a new position in shares of Thomson Reuters in the second quarter worth $39,000. Cullen Frost Bankers Inc. lifted its stake in shares of Thomson Reuters by 50.0% during the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock worth $39,000 after buying an additional 83 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Thomson Reuters during the third quarter valued at $57,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TRI shares. JPMorgan Chase & Co. lowered their price target on Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Scotiabank reaffirmed an “outperform” rating and set a $156.00 target price (down previously from $189.00) on shares of Thomson Reuters in a report on Friday, February 6th. Canadian Imperial Bank of Commerce set a $183.00 price target on shares of Thomson Reuters and gave the stock an “outperformer” rating in a report on Friday, January 16th. The Goldman Sachs Group set a $111.00 price target on shares of Thomson Reuters and gave the stock a “buy” rating in a research report on Saturday, February 7th. Finally, Huber Research raised shares of Thomson Reuters to an “overweight” rating in a report on Monday, October 20th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Thomson Reuters has a consensus rating of “Moderate Buy” and an average price target of $156.42.

Thomson Reuters Price Performance

NYSE:TRI opened at $85.89 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The company has a 50 day moving average price of $121.25 and a 200-day moving average price of $147.25. Thomson Reuters Co. has a 1-year low of $84.27 and a 1-year high of $218.42. The firm has a market cap of $38.22 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 5.67 and a beta of 0.79.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, February 5th. The business services provider reported $1.07 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the business earned $1.01 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Equities research analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be issued a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.60. Thomson Reuters’s payout ratio is currently 78.68%.

About Thomson Reuters

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.