Guardian Capital LP Cuts Holdings in Thomson Reuters Co. $TRI

Guardian Capital LP trimmed its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 95.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 8,265 shares of the business services provider’s stock after selling 156,920 shares during the period. Guardian Capital LP’s holdings in Thomson Reuters were worth $1,284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TRI. AlphaCore Capital LLC purchased a new position in Thomson Reuters in the second quarter worth $39,000. Cullen Frost Bankers Inc. increased its position in shares of Thomson Reuters by 50.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 83 shares during the last quarter. Westside Investment Management Inc. raised its stake in shares of Thomson Reuters by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the business services provider’s stock worth $52,000 after purchasing an additional 169 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Thomson Reuters during the 3rd quarter worth $57,000. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Thomson Reuters by 30.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 309 shares of the business services provider’s stock worth $62,000 after buying an additional 73 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRI has been the subject of several research reports. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research report on Friday, February 6th. Canadian Imperial Bank of Commerce set a $183.00 price objective on shares of Thomson Reuters and gave the stock an “outperformer” rating in a research report on Friday, January 16th. Wells Fargo & Company set a $140.00 target price on shares of Thomson Reuters and gave the company an “overweight” rating in a research note on Wednesday, February 4th. UBS Group set a $131.50 target price on shares of Thomson Reuters in a research report on Friday, February 6th. Finally, Morgan Stanley set a $116.00 price target on shares of Thomson Reuters in a research note on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Thomson Reuters has an average rating of “Moderate Buy” and a consensus target price of $156.42.

Thomson Reuters Stock Up 1.8%

TRI stock opened at $111.46 on Friday. The stock has a fifty day moving average of $109.24 and a 200-day moving average of $137.06. Thomson Reuters Co. has a fifty-two week low of $79.71 and a fifty-two week high of $218.42. The company has a market capitalization of $49.60 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 5.67 and a beta of 0.81. 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 data on Thursday, February 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS. As a group, equities research analysts predict that Thomson Reuters Co. will post 3.89 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, March 10th. Stockholders of record on Tuesday, February 17th will be given a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 2.4%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, February 17th. Thomson Reuters’s payout ratio is presently 78.68%.

Thomson Reuters Company Profile

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.