Wellington Management Group LLP Has $1.33 Million Stock Position in Thomson Reuters Co. (NYSE:TRI)

Wellington Management Group LLP lessened its stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 48.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,298 shares of the business services provider's stock after selling 7,847 shares during the quarter. Wellington Management Group LLP's holdings in Thomson Reuters were worth $1,332,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of Thomson Reuters during the fourth quarter worth $27,000. CIBC Asset Management Inc grew its stake in shares of Thomson Reuters by 52.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider's stock worth $185,011,000 after purchasing an additional 395,481 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Thomson Reuters in the fourth quarter worth $11,285,000. Truist Financial Corp grew its stake in shares of Thomson Reuters by 5.6% in the fourth quarter. Truist Financial Corp now owns 9,496 shares of the business services provider's stock worth $1,523,000 after purchasing an additional 500 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Thomson Reuters by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 33,663 shares of the business services provider's stock worth $5,683,000 after purchasing an additional 313 shares during the last quarter. Institutional investors own 17.31% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TRI shares. Bank of America started coverage on shares of Thomson Reuters in a research note on Thursday, April 10th. They issued a "neutral" rating and a $180.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Wall Street Zen cut shares of Thomson Reuters from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Royal Bank of Canada boosted their price objective on shares of Thomson Reuters from $182.00 to $185.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Finally, TD Securities boosted their price objective on shares of Thomson Reuters from $177.00 to $182.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $183.70.

Thomson Reuters Trading Down 0.2%

TRI stock traded down $0.30 during midday trading on Friday, hitting $195.00. The stock had a trading volume of 375,975 shares, compared to its average volume of 434,356. The firm has a market cap of $87.84 billion, a P/E ratio of 39.88, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. 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 Co. has a 1-year low of $150.01 and a 1-year high of $199.11. The business has a fifty day moving average price of $184.37 and a two-hundred day moving average price of $173.72.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its earnings results on Thursday, May 1st. The business services provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.07. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Thomson Reuters's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. On average, sell-side analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.595 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.38 annualized dividend and a dividend yield of 1.22%. Thomson Reuters's dividend payout ratio is currently 49.69%.

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.