M&T Bank Corp Trims Holdings in Thomson Reuters Co. (NYSE:TRI)

M&T Bank Corp reduced its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 87.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,646 shares of the business services provider’s stock after selling 24,459 shares during the quarter. M&T Bank Corp’s holdings in Thomson Reuters were worth $622,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. &PARTNERS purchased a new stake in shares of Thomson Reuters in the second quarter valued at about $278,000. Aigen Investment Management LP grew its stake in shares of Thomson Reuters by 87.4% in the 3rd quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider’s stock valued at $1,250,000 after buying an additional 3,417 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of Thomson Reuters during the 3rd quarter worth approximately $4,506,000. Icon Wealth Advisors LLC raised its position in shares of Thomson Reuters by 547.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 7,943 shares of the business services provider’s stock valued at $1,355,000 after buying an additional 6,716 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in Thomson Reuters by 87.1% in the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock valued at $85,136,000 after acquiring an additional 235,145 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank of Canada raised their target price on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. Wells Fargo & Company started coverage on shares of Thomson Reuters in a report on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price objective on the stock. Scotiabank upped their target price on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Finally, StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters has an average rating of “Hold” and an average price target of $175.20.

Thomson Reuters Price Performance

Shares of TRI opened at $166.20 on Wednesday. The company has a market cap of $74.78 billion, a P/E ratio of 32.72, a PEG ratio of 5.69 and a beta of 0.71. Thomson Reuters Co. has a fifty-two week low of $138.85 and a fifty-two week high of $176.03. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average price is $166.13 and its 200 day moving average price is $166.66.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. On average, research analysts forecast that Thomson Reuters Co. will post 3.69 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were given a dividend of $0.54 per share. The ex-dividend date was Thursday, November 21st. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.30%. Thomson Reuters’s payout ratio is currently 42.52%.

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.