Thomson Reuters Co. $TRI Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC lessened its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 8.5% in the 2nd quarter, Holdings Channel reports. The firm owned 2,971 shares of the business services provider’s stock after selling 275 shares during the period. Ingalls & Snyder LLC’s holdings in Thomson Reuters were worth $598,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its position in Thomson Reuters by 772.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider’s stock valued at $27,000 after buying an additional 139 shares during the period. Curio Wealth LLC boosted its position in Thomson Reuters by 16,200.0% in the 2nd quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock valued at $33,000 after buying an additional 162 shares during the period. Ameritas Advisory Services LLC purchased a new position in Thomson Reuters in the 2nd quarter valued at approximately $37,000. SBI Securities Co. Ltd. boosted its position in Thomson Reuters by 41.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider’s stock valued at $41,000 after buying an additional 69 shares during the period. Finally, Trust Co. of Toledo NA OH purchased a new position in Thomson Reuters in the 2nd quarter valued at approximately $77,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on TRI shares. Wells Fargo & Company raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $187.00 to $212.00 in a research report on Tuesday, September 9th. Huber Research raised shares of Thomson Reuters to an “overweight” rating in a research report on Monday, October 20th. Canaccord Genuity Group raised their price target on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. Royal Bank Of Canada decreased their price objective on shares of Thomson Reuters from $215.00 to $208.00 and set a “sector perform” rating for the company in a research report on Thursday, August 7th. Finally, TD Securities raised shares of Thomson Reuters from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $275.00 to $285.00 in a research report on Thursday, August 28th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Thomson Reuters currently has an average rating of “Moderate Buy” and a consensus target price of $202.64.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $162.60 on Monday. The stock has a market cap of $72.63 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. The company has a fifty day simple moving average of $165.22 and a 200-day simple moving average of $182.65. Thomson Reuters Co. has a 12-month low of $149.47 and a 12-month high of $218.42. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the company earned $0.85 earnings per share. Thomson Reuters’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $0.595 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $2.38 dividend on an annualized basis and a yield of 1.5%. Thomson Reuters’s payout ratio is 65.75%.

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.