Thomson Reuters Co. (NYSE:TRI) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lessened its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,514 shares of the business services provider’s stock after selling 160 shares during the quarter. Parallel Advisors LLC’s holdings in Thomson Reuters were worth $403,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Decker Retirement Planning Inc. acquired a new position in Thomson Reuters in the fourth quarter valued at $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Thomson Reuters in the 4th quarter valued at about $27,000. Noble Wealth Management PBC purchased a new stake in shares of Thomson Reuters during the 4th quarter worth about $33,000. EverSource Wealth Advisors LLC increased its position in Thomson Reuters by 60.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider’s stock worth $58,000 after purchasing an additional 136 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in Thomson Reuters by 51.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 880 shares of the business services provider’s stock valued at $141,000 after buying an additional 298 shares during the period. 17.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their price target on Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Scotiabank boosted their price objective on Thomson Reuters from $187.00 to $188.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 7th. Canaccord Genuity Group increased their target price on Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Finally, CIBC increased their target price on Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $177.56.

Thomson Reuters Price Performance

Shares of NYSE TRI opened at $170.01 on Friday. Thomson Reuters Co. has a fifty-two week low of $149.50 and a fifty-two week high of $180.42. The business has a 50 day moving average price of $170.78 and a two-hundred day moving average price of $167.83. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a market cap of $76.52 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 5.67 and a beta of 0.70.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Sell-side analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 20th were paid a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 1.40%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, February 20th. Thomson Reuters’s dividend payout ratio (DPR) is 48.67%.

Thomson Reuters 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.