Ontario Teachers Pension Plan Board Sells 1,576 Shares of Thomson Reuters Co. (NYSE:TRI)

Key Points

• The Ontario Teachers Pension Plan Board reduced its holdings in Thomson Reuters by 9.7%, resulting in ownership of 14,669 shares valued at approximately $2.53 million.
• Thomson Reuters reported an earnings per share (EPS) of $0.87 for the last quarter, surpassing analysts' expectations of $0.83, with revenue also beating estimates at $1.81 billion.
• The company announced a quarterly dividend of $0.595, with a yield of 1.3%, to be paid to shareholders of record on August 19th.

Ontario Teachers Pension Plan Board trimmed its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 9.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,669 shares of the business services provider's stock after selling 1,576 shares during the period. Ontario Teachers Pension Plan Board's holdings in Thomson Reuters were worth $2,532,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in TRI. Brighton Jones LLC acquired a new stake in shares of Thomson Reuters during the 4th quarter worth about $448,000. Invesco Ltd. raised its holdings in Thomson Reuters by 5.6% in the fourth quarter. Invesco Ltd. now owns 144,229 shares of the business services provider's stock valued at $23,131,000 after buying an additional 7,590 shares during the period. Renaissance Technologies LLC raised its holdings in Thomson Reuters by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 24,800 shares of the business services provider's stock valued at $3,977,000 after buying an additional 3,500 shares during the period. Scotia Capital Inc. raised its stake in shares of Thomson Reuters by 11.3% during the fourth quarter. Scotia Capital Inc. now owns 244,499 shares of the business services provider's stock valued at $38,795,000 after purchasing an additional 24,842 shares during the period. Finally, Barclays PLC raised its stake in shares of Thomson Reuters by 49.9% during the fourth quarter. Barclays PLC now owns 53,233 shares of the business services provider's stock valued at $8,536,000 after purchasing an additional 17,717 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Price Performance

Thomson Reuters stock traded down $1.60 during mid-day trading on Friday, hitting $179.96. 1,329,246 shares of the company were exchanged, compared to its average volume of 858,698. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $198.75 and a 200 day moving average of $185.09. Thomson Reuters Co. has a 1-year low of $151.60 and a 1-year high of $218.42. The company has a market capitalization of $81.10 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its earnings results on Wednesday, August 6th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.79 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, sell-side analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $0.595 per share. The ex-dividend date is Tuesday, August 19th. This represents a $2.38 dividend on an annualized basis and a yield of 1.3%. Thomson Reuters's dividend payout ratio (DPR) is 65.75%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TRI. Wall Street Zen lowered shares of Thomson Reuters from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Barclays upped their price objective on shares of Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Wells Fargo & Company dropped their target price on Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating on the stock in a report on Thursday. Finally, CIBC upped their target price on Thomson Reuters from $174.00 to $201.00 and gave the stock an "outperformer" rating in a research report on Monday, July 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $194.20.

Thomson Reuters Company Profile

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.