PNC Financial Services Group Inc. Sells 117 Shares of Thomson Reuters Co. (NYSE:TRI)

PNC Financial Services Group Inc. reduced its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,749 shares of the business services provider’s stock after selling 117 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Thomson Reuters were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in Thomson Reuters by 5.4% during the third quarter. Janney Montgomery Scott LLC now owns 7,146 shares of the business services provider’s stock worth $1,219,000 after purchasing an additional 369 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in shares of Thomson Reuters by 2.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,700 shares of the business services provider’s stock worth $972,000 after buying an additional 140 shares during the period. Swiss National Bank grew its stake in Thomson Reuters by 0.4% in the 3rd quarter. Swiss National Bank now owns 476,055 shares of the business services provider’s stock valued at $81,331,000 after buying an additional 2,000 shares during the last quarter. Caprock Group LLC raised its holdings in Thomson Reuters by 7.6% in the 3rd quarter. Caprock Group LLC now owns 3,506 shares of the business services provider’s stock valued at $598,000 after acquiring an additional 248 shares during the period. Finally, Prospera Financial Services Inc lifted its position in Thomson Reuters by 10.4% during the third quarter. Prospera Financial Services Inc now owns 2,964 shares of the business services provider’s stock worth $506,000 after acquiring an additional 280 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TRI. Canaccord Genuity Group increased their target price on Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on Thomson Reuters from $175.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. StockNews.com upgraded shares of Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. The Goldman Sachs Group lifted their price objective on shares of Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company increased their target price 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. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $177.56.

Thomson Reuters Trading Up 1.3 %

Shares of TRI stock opened at $172.17 on Friday. Thomson Reuters Co. has a fifty-two week low of $149.50 and a fifty-two week high of $180.42. The stock’s fifty day moving average price is $169.55 and its two-hundred day moving average price is $167.78. 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 has a market cap of $77.49 billion, a PE ratio of 35.21, a P/E/G ratio of 5.67 and a beta of 0.70.

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

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were given a $0.595 dividend. The ex-dividend date was Thursday, February 20th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. This represents a $2.38 annualized dividend and a yield of 1.38%. 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.