Thomson Reuters Co. (NYSE:TRI) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank sold 8,900 shares of Thomson Reuters, reducing its stake by 1.9% to 448,055 shares, worth approximately $77.375 million.
• Analysts are mixed on Thomson Reuters, with Royal Bank of Canada downgrading the stock and setting a new target price at $208, whereas Scotiabank upgraded it to a sector outperform rating.
• Thomson Reuters declared a quarterly dividend of $0.595 per share, which will be paid on September 10th, reflecting a 1.3% dividend yield.

Swiss National Bank reduced its stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 448,055 shares of the business services provider's stock after selling 8,900 shares during the period. Swiss National Bank owned approximately 0.10% of Thomson Reuters worth $77,375,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. raised its holdings in shares of 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 purchasing an additional 139 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Thomson Reuters in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. raised its holdings in shares of 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 purchasing an additional 69 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Thomson Reuters by 25.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider's stock valued at $71,000 after purchasing an additional 84 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Thomson Reuters by 42.8% in the 1st quarter. Fifth Third Bancorp now owns 484 shares of the business services provider's stock valued at $84,000 after purchasing an additional 145 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group set a $182.00 price objective on shares of Thomson Reuters and gave the company a "hold" rating in a report on Thursday, August 7th. National Bankshares reiterated an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. Wall Street Zen lowered shares of Thomson Reuters from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. CIBC lifted their price target on shares of Thomson Reuters from $174.00 to $201.00 and gave the stock an "outperformer" rating in a research note on Monday, July 21st. Finally, TD Securities cut their price target on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $194.20.

Thomson Reuters Stock Performance

Thomson Reuters stock traded down $4.46 during midday trading on Tuesday, hitting $170.31. 2,098,934 shares of the company's stock were exchanged, compared to its average volume of 872,741. Thomson Reuters Co. has a 12-month low of $151.60 and a 12-month high of $218.42. 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 stock has a market cap of $76.75 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. The firm's 50 day simple moving average is $198.29 and its 200 day simple moving average is $185.31.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the firm posted $0.85 EPS. Thomson Reuters's quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Thomson Reuters's payout ratio is currently 65.75%.

Thomson Reuters 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.