Thomson Reuters Co. (NYSE:TRI) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,895 shares of the business services provider’s stock after selling 518 shares during the period. M&T Bank Corp’s holdings in Thomson Reuters were worth $4,371,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of Nova Scotia acquired a new position in shares of Thomson Reuters in the 3rd quarter valued at about $170,036,000. FMR LLC raised its holdings in Thomson Reuters by 26.3% in the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock valued at $692,059,000 after buying an additional 1,179,155 shares during the period. Legal & General Group Plc lifted its position in Thomson Reuters by 6,607,664.7% during the third quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock valued at $138,048,000 after buying an additional 1,123,303 shares in the last quarter. Toronto Dominion Bank grew its stake in Thomson Reuters by 361.6% during the third quarter. Toronto Dominion Bank now owns 1,142,194 shares of the business services provider’s stock worth $139,713,000 after buying an additional 894,776 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Thomson Reuters by 6.2% in the third quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock worth $500,872,000 after acquiring an additional 240,148 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Shares of TRI opened at $167.07 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. Thomson Reuters Co. has a 1 year low of $117.46 and a 1 year high of $168.28. The firm has a fifty day moving average of $155.54 and a 200-day moving average of $146.98. The company has a market cap of $75.40 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 4.52 and a beta of 0.65.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.94 by $0.17. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business earned $0.85 earnings per share. Thomson Reuters’s revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that Thomson Reuters Co. will post 3.58 earnings per share for the current year.

Thomson Reuters Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a $0.54 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.16 dividend on an annualized basis and a yield of 1.29%. Thomson Reuters’s dividend payout ratio is presently 41.14%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TRI shares. Canaccord Genuity Group lifted their target price on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a report on Friday. UBS Group increased their target price on Thomson Reuters from $177.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Barclays upgraded Thomson Reuters from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $150.00 to $180.00 in a report on Thursday, March 14th. CIBC lifted their price objective on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a research note on Friday. Finally, National Bank Financial upgraded shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $164.31.

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.