Summit Global Investments Cuts Stake in Thomson Reuters Co. (NYSE:TRI)

Summit Global Investments lessened its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 2.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 35,077 shares of the business services provider’s stock after selling 957 shares during the quarter. Summit Global Investments’ holdings in Thomson Reuters were worth $5,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRI. SRS Capital Advisors Inc. grew its holdings in Thomson Reuters by 78.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 948 shares of the business services provider’s stock valued at $139,000 after buying an additional 417 shares in the last quarter. Natixis Advisors L.P. increased its position in Thomson Reuters by 3.4% in the fourth quarter. Natixis Advisors L.P. now owns 89,507 shares of the business services provider’s stock worth $13,087,000 after purchasing an additional 2,953 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in Thomson Reuters by 3.2% during the fourth quarter. First Trust Direct Indexing L.P. now owns 4,200 shares of the business services provider’s stock valued at $614,000 after purchasing an additional 129 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Thomson Reuters by 69.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 744 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 306 shares during the last quarter. Finally, Brighton Jones LLC purchased a new position in shares of Thomson Reuters in the 4th quarter worth $607,000. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Trading Up 7.3 %

TRI traded up $11.13 on Thursday, reaching $162.61. 1,239,386 shares of the company traded hands, compared to its average volume of 316,681. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. The company has a market cap of $73.38 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 3.93 and a beta of 0.65. The firm has a fifty day simple moving average of $155.15 and a two-hundred day simple moving average of $145.99. Thomson Reuters Co. has a one year low of $117.46 and a one year high of $165.92.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.82 billion. Thomson Reuters had a return on equity of 14.01% and a net margin of 39.67%. Thomson Reuters’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. As a group, equities research analysts expect that Thomson Reuters Co. will post 3.58 earnings per share for the current year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Wednesday, February 21st were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $2.16 annualized dividend and a dividend yield of 1.33%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.49. Thomson Reuters’s dividend payout ratio (DPR) is currently 36.99%.

Analyst Upgrades and Downgrades

TRI has been the topic of several recent research reports. National Bank Financial upgraded shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada upped their price objective on Thomson Reuters from $153.00 to $156.00 and gave the company a “sector perform” rating in a research report on Tuesday. Barclays raised Thomson Reuters from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $150.00 to $180.00 in a research report on Thursday, March 14th. TD Securities raised their price target on Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. Finally, CIBC boosted their price objective on shares of Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $157.67.

About Thomson Reuters

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.