Cornerstone Planning Group LLC Sells 752 Shares of Thomson Reuters Co. (NYSE:TRI)

Cornerstone Planning Group LLC lessened its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 33.7% during the first quarter, HoldingsChannel.com reports. The firm owned 1,477 shares of the business services provider’s stock after selling 752 shares during the period. Cornerstone Planning Group LLC’s holdings in Thomson Reuters were worth $269,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TRI. Mackenzie Financial Corp increased its holdings in Thomson Reuters by 139.5% during the fourth quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider’s stock worth $1,370,564,000 after buying an additional 4,977,006 shares during the last quarter. Norges Bank acquired a new position in Thomson Reuters during the fourth quarter worth $148,221,000. Geode Capital Management LLC increased its holdings in Thomson Reuters by 74.3% during the fourth quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider’s stock worth $214,236,000 after buying an additional 560,450 shares during the last quarter. TD Asset Management Inc. increased its holdings in Thomson Reuters by 12.2% during the fourth quarter. TD Asset Management Inc. now owns 4,764,429 shares of the business services provider’s stock worth $764,654,000 after buying an additional 516,605 shares during the last quarter. Finally, AGF Management Ltd. increased its holdings in Thomson Reuters by 60.7% during the fourth quarter. AGF Management Ltd. now owns 462,241 shares of the business services provider’s stock worth $74,698,000 after buying an additional 174,546 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TRI. Bank of America assumed coverage on shares of Thomson Reuters in a report on Thursday, April 10th. They set a “neutral” rating and a $180.00 target price on the stock. TD Securities increased their price objective on shares of Thomson Reuters from $177.00 to $182.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 29th. Scotiabank reissued a “sector perform” rating and issued a $188.00 price objective on shares of Thomson Reuters in a research report on Friday, May 2nd. Royal Bank Of Canada increased their price objective on shares of Thomson Reuters from $182.00 to $185.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Thomson Reuters has an average rating of “Hold” and a consensus price target of $187.30.

Thomson Reuters Trading Down 0.4%

TRI stock opened at $200.33 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The company’s 50-day simple moving average is $193.92 and its 200 day simple moving average is $178.59. Thomson Reuters Co. has a 52 week low of $150.01 and a 52 week high of $202.33. The company has a market capitalization of $90.26 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 5.67 and a beta of 0.76.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.05 by $0.07. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Thomson Reuters’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.11 earnings per share. As a group, sell-side analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.595 per share. The ex-dividend date was Thursday, May 15th. This represents a $2.38 dividend on an annualized basis and a yield of 1.19%. Thomson Reuters’s payout ratio is 49.69%.

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.