CIBC Asset Management Inc Trims Holdings in Thomson Reuters Co. (NYSE:TRI)

CIBC Asset Management Inc decreased its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 2.5% during the third quarter, HoldingsChannel.com reports. The firm owned 757,759 shares of the business services provider’s stock after selling 19,217 shares during the period. CIBC Asset Management Inc’s holdings in Thomson Reuters were worth $129,529,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TRI. Janus Henderson Group PLC boosted its position in shares of Thomson Reuters by 23.8% in the first quarter. Janus Henderson Group PLC now owns 16,770 shares of the business services provider’s stock valued at $2,612,000 after acquiring an additional 3,223 shares during the period. Bessemer Group Inc. grew its position in shares of Thomson Reuters by 874.0% during the 1st quarter. Bessemer Group Inc. now owns 130,744 shares of the business services provider’s stock valued at $20,351,000 after purchasing an additional 117,320 shares in the last quarter. &PARTNERS bought a new position in shares of Thomson Reuters in the second quarter worth $278,000. Intech Investment Management LLC purchased a new stake in shares of Thomson Reuters in the first quarter worth $7,908,000. Finally, Acadian Asset Management LLC grew its position in Thomson Reuters by 51.2% during the first quarter. Acadian Asset Management LLC now owns 32,500 shares of the business services provider’s stock worth $5,060,000 after buying an additional 11,000 shares in the last quarter. Institutional investors own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TRI. Scotiabank raised their price target on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Thomson Reuters from a “sell” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their target price on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. Finally, National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Thomson Reuters currently has an average rating of “Hold” and an average target price of $176.33.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $164.74 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. Thomson Reuters Co. has a fifty-two week low of $132.87 and a fifty-two week high of $176.03. The company has a market capitalization of $74.11 billion, a P/E ratio of 32.43, a PEG ratio of 5.70 and a beta of 0.73. The stock has a 50 day moving average price of $168.59 and a two-hundred day moving average price of $167.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 EPS. Analysts expect that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.54 per share. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.16 dividend on an annualized basis and a yield of 1.31%. Thomson Reuters’s dividend payout ratio is presently 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.