Pinnacle Wealth Planning Services Inc. Sells 995 Shares of Thomson Reuters Co. (NYSE:TRI)

Pinnacle Wealth Planning Services Inc. cut its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 44.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,260 shares of the business services provider’s stock after selling 995 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Thomson Reuters were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its holdings in Thomson Reuters by 0.8% in the third quarter. FMR LLC now owns 7,209,202 shares of the business services provider’s stock worth $1,229,716,000 after purchasing an additional 57,854 shares in the last quarter. Fiera Capital Corp grew its position in shares of Thomson Reuters by 1.0% during the 3rd quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock worth $458,559,000 after buying an additional 27,714 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Thomson Reuters by 11.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock valued at $439,665,000 after acquiring an additional 255,387 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Thomson Reuters by 52.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock valued at $185,011,000 after acquiring an additional 395,481 shares during the period. Finally, National Bank of Canada FI boosted its stake in Thomson Reuters by 115.7% during the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock worth $164,292,000 after acquiring an additional 516,715 shares in the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TRI. CIBC lifted their price target on shares of Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. Wells Fargo & Company boosted their target price on Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. The Goldman Sachs Group increased their price target on Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Canaccord Genuity Group boosted their price objective on Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a report on Friday, February 7th. Finally, Scotiabank increased their target price on Thomson Reuters from $187.00 to $188.00 and gave the stock a “sector outperform” rating in a report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Thomson Reuters currently has a consensus rating of “Hold” and an average price target of $182.09.

Thomson Reuters Price Performance

Shares of NYSE:TRI opened at $177.66 on Friday. Thomson Reuters Co. has a 1-year low of $149.50 and a 1-year high of $180.42. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock has a market cap of $79.96 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 5.67 and a beta of 0.73. The stock’s fifty day simple moving average is $168.49 and its two-hundred day simple moving average is $167.59.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. As a group, analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Thursday, February 20th will be issued a $0.595 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. This represents a $2.38 annualized dividend and a dividend yield of 1.34%. Thomson Reuters’s dividend payout ratio is currently 48.67%.

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.