Thomson Reuters Co. (NYSE:TRI) Shares Sold by Korea Investment CORP

Korea Investment CORP lessened its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,439 shares of the business services provider’s stock after selling 8,581 shares during the period. Korea Investment CORP’s holdings in Thomson Reuters were worth $17,885,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Thomson Reuters in the 4th quarter worth approximately $27,000. Atomi Financial Group Inc. grew its position in Thomson Reuters by 16.1% during the 4th quarter. Atomi Financial Group Inc. now owns 1,819 shares of the business services provider’s stock worth $292,000 after purchasing an additional 252 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Thomson Reuters by 52.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock valued at $185,011,000 after buying an additional 395,481 shares during the period. Park Avenue Securities LLC boosted its stake in shares of Thomson Reuters by 26.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,546 shares of the business services provider’s stock worth $409,000 after buying an additional 526 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Thomson Reuters by 23.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,966 shares of the business services provider’s stock valued at $958,000 after purchasing an additional 1,145 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TRI shares. JPMorgan Chase & Co. increased their target price on shares of Thomson Reuters from $175.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. CIBC increased their price target on Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. Scotiabank boosted their price objective on Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a research report on Friday, February 7th. StockNews.com lowered Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, The Goldman Sachs Group increased their price objective on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $177.56.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $171.01 on Friday. The company has a fifty day simple moving average of $172.29 and a 200-day simple moving average of $167.94. The firm has a market capitalization of $76.97 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 5.67 and a beta of 0.70. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a 52-week low of $149.50 and a 52-week high of $180.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. On average, equities analysts anticipate that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 20th were issued a $0.595 dividend. This represents a $2.38 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Thursday, February 20th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s dividend payout ratio (DPR) is currently 48.67%.

About Thomson Reuters

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.