TD Asset Management Inc Decreases Position in Thomson Reuters Co. $TRI

TD Asset Management Inc reduced its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 18.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,630,954 shares of the business services provider’s stock after selling 1,050,515 shares during the period. TD Asset Management Inc’s holdings in Thomson Reuters were worth $719,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRI. Brighton Jones LLC acquired a new position in shares of Thomson Reuters in the 4th quarter valued at $448,000. AQR Capital Management LLC lifted its position in Thomson Reuters by 30.3% in the first quarter. AQR Capital Management LLC now owns 17,152 shares of the business services provider’s stock valued at $2,964,000 after acquiring an additional 3,988 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Thomson Reuters in the first quarter valued at $205,000. D.A. Davidson & CO. grew its holdings in shares of Thomson Reuters by 13.6% during the second quarter. D.A. Davidson & CO. now owns 2,739 shares of the business services provider’s stock worth $551,000 after purchasing an additional 327 shares during the last quarter. Finally, Ethic Inc. acquired a new stake in shares of Thomson Reuters during the second quarter worth about $217,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TRI. BMO Capital Markets set a $165.00 target price on Thomson Reuters in a research report on Friday, February 6th. Wells Fargo & Company set a $140.00 price objective on Thomson Reuters and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Canadian Imperial Bank of Commerce set a $183.00 target price on shares of Thomson Reuters and gave the stock an “outperformer” rating in a research report on Friday, January 16th. JPMorgan Chase & Co. cut their target price on shares of Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Finally, UBS Group set a $131.50 price target on shares of Thomson Reuters in a research note on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Thomson Reuters has an average rating of “Moderate Buy” and an average target price of $156.42.

Thomson Reuters Price Performance

Shares of NYSE TRI opened at $90.09 on Wednesday. The stock has a fifty day moving average price of $113.92 and a 200 day moving average price of $140.41. Thomson Reuters Co. has a 1-year low of $79.71 and a 1-year high of $218.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The company has a market cap of $40.09 billion, a PE ratio of 18.42, a P/E/G ratio of 5.67 and a beta of 0.79.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data 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. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the company posted $1.01 EPS. Thomson Reuters’s revenue was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be given a $0.655 dividend. The ex-dividend date is Tuesday, February 17th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.60. This represents a $2.62 dividend on an annualized basis and a yield of 2.9%. Thomson Reuters’s payout ratio is 78.68%.

Thomson Reuters Profile

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.