Cumberland Partners Ltd Reduces Position in Thomson Reuters Co. $TRI

Cumberland Partners Ltd trimmed its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 87.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 13,738 shares of the business services provider’s stock after selling 99,516 shares during the period. Cumberland Partners Ltd’s holdings in Thomson Reuters were worth $2,132,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Curio Wealth LLC increased its position in shares of Thomson Reuters by 16,200.0% in the second quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 162 shares during the period. Westside Investment Management Inc. bought a new stake in shares of Thomson Reuters in the second quarter worth about $34,000. AlphaCore Capital LLC purchased a new position in Thomson Reuters during the 2nd quarter valued at about $39,000. Cullen Frost Bankers Inc. raised its position in 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. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Thomson Reuters in the 3rd quarter worth approximately $57,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

TRI has been the topic of several research analyst reports. Canaccord Genuity Group reduced their target price on Thomson Reuters from $174.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Morgan Stanley set a $116.00 price objective on shares of Thomson Reuters in a research report on Friday, February 6th. Wells Fargo & Company set a $140.00 target price on shares of Thomson Reuters and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. UBS Group set a $131.50 price target on shares of Thomson Reuters in a research report on Friday, February 6th. Finally, BMO Capital Markets set a $165.00 price objective on shares of Thomson Reuters in a report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.42.

Thomson Reuters Trading Up 3.0%

NYSE:TRI opened at $85.69 on Thursday. The firm has a market capitalization of $38.13 billion, a P/E ratio of 17.52, a PEG ratio of 5.67 and a beta of 0.79. 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 Co. has a one year low of $81.91 and a one year high of $218.42. The company’s 50-day simple moving average is $117.67 and its 200 day simple moving average is $143.66.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Thursday, February 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $1.01 earnings per share. As a group, analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

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