Contravisory Investment Management Inc. Lowers Stock Position in Thomson Reuters Co. (NYSE:TRI)

Contravisory Investment Management Inc. reduced its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,906 shares of the business services provider’s stock after selling 178 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Thomson Reuters were worth $466,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC increased its position in Thomson Reuters by 32.9% in the second quarter. Private Advisor Group LLC now owns 4,270 shares of the business services provider’s stock worth $720,000 after buying an additional 1,056 shares during the last quarter. BOKF NA boosted its holdings in Thomson Reuters by 69.7% in the 2nd quarter. BOKF NA now owns 1,057 shares of the business services provider’s stock worth $178,000 after buying an additional 434 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Thomson Reuters by 20.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 35,480 shares of the business services provider’s stock valued at $6,046,000 after buying an additional 6,075 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Thomson Reuters by 5.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,012 shares of the business services provider’s stock worth $1,182,000 after acquiring an additional 358 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Thomson Reuters by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 183,605 shares of the business services provider’s stock worth $30,954,000 after acquiring an additional 9,571 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $157.55 on Thursday. The firm has a market capitalization of $70.89 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 4.89 and a beta of 0.72. The stock has a fifty day moving average of $163.60 and a 200 day moving average of $165.54. Thomson Reuters Co. has a 52 week low of $145.27 and a 52 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.

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

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were given a $0.54 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.16 annualized dividend and a dividend yield of 1.37%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio is currently 42.52%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Scotiabank raised their target price on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Wells Fargo & Company initiated coverage on Thomson Reuters in a research note on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 target price on the stock. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Royal Bank of Canada upped their price objective on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. Finally, CIBC raised their price objective on Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Thomson Reuters presently has an average rating of “Hold” and a consensus target price of $176.10.

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.