Comerica Bank increased its position in Thomson Reuters Co. (NYSE:TRI – Get Rating) (TSE:TRI) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,358 shares of the business services provider’s stock after purchasing an additional 351 shares during the quarter. Comerica Bank’s holdings in Thomson Reuters were worth $959,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its stake in Thomson Reuters by 189.7% in the third quarter. Hexagon Capital Partners LLC now owns 336 shares of the business services provider’s stock worth $34,000 after purchasing an additional 220 shares in the last quarter. Charter Oak Capital Management LLC bought a new position in Thomson Reuters in the second quarter worth approximately $35,000. Glassman Wealth Services grew its stake in Thomson Reuters by 64.1% in the second quarter. Glassman Wealth Services now owns 343 shares of the business services provider’s stock worth $36,000 after purchasing an additional 134 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in Thomson Reuters in the second quarter worth approximately $55,000. Finally, Venture Visionary Partners LLC bought a new position in Thomson Reuters in the second quarter worth approximately $63,000. Institutional investors own 20.84% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the company. Scotiabank reissued a “sector perform” rating and issued a $126.00 price objective on shares of Thomson Reuters in a research note on Monday, December 19th. The Goldman Sachs Group increased their target price on Thomson Reuters from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Tuesday, January 10th. Barclays increased their target price on Thomson Reuters from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, December 2nd. Morgan Stanley increased their target price on Thomson Reuters from $108.00 to $111.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 4th. Finally, Exane BNP Paribas cut Thomson Reuters from a “neutral” rating to an “underperform” rating in a research report on Thursday, December 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $131.11.
Thomson Reuters Stock Performance
Thomson Reuters (NYSE:TRI – Get Rating) (TSE:TRI) last issued its quarterly earnings data on Tuesday, November 1st. The business services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. Thomson Reuters had a return on equity of 8.10% and a net margin of 14.38%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.59 billion. Equities research analysts predict that Thomson Reuters Co. will post 2.47 earnings per share for the current fiscal year.
Thomson Reuters Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, November 17th were paid a $0.322 dividend. The ex-dividend date was Wednesday, November 16th. This represents a $1.29 dividend on an annualized basis and a yield of 1.09%. Thomson Reuters’s dividend payout ratio (DPR) is 92.23%.
About Thomson Reuters
Thomson Reuters Corporation provides 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.
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