First American Bank Lowers Position in Thomson Reuters Co. (NYSE:TRI)

First American Bank decreased its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,394 shares of the business services provider’s stock after selling 2,473 shares during the period. First American Bank’s holdings in Thomson Reuters were worth $3,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rothschild Investment LLC acquired a new position in Thomson Reuters in the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its holdings in Thomson Reuters by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 80 shares during the period. Asset Dedication LLC boosted its holdings in Thomson Reuters by 125.0% during the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 130 shares during the period. Clean Yield Group purchased a new position in Thomson Reuters during the 3rd quarter valued at about $42,000. Finally, Exchange Traded Concepts LLC boosted its holdings in Thomson Reuters by 104.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

TRI has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada lifted their price target on Thomson Reuters from $168.00 to $171.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Finally, Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $164.00 to $182.00 in a report on Tuesday, August 27th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $173.73.

Thomson Reuters Stock Down 1.0 %

Shares of NYSE:TRI opened at $164.78 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16. Thomson Reuters Co. has a 52-week low of $117.46 and a 52-week high of $176.03. The stock’s fifty day simple moving average is $168.78 and its 200-day simple moving average is $165.91. The company has a market capitalization of $74.13 billion, a P/E ratio of 31.63, a P/E/G ratio of 5.54 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts forecast that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $0.146 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s payout ratio is currently 41.46%.

Thomson Reuters Company 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.