Tobam Trims Stake in Thomson Reuters Co. (NYSE:TRI)

Tobam trimmed its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 49.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,867 shares of the business services provider's stock after selling 40,544 shares during the period. Tobam's holdings in Thomson Reuters were worth $6,146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TRI. International Assets Investment Management LLC acquired a new stake in Thomson Reuters during the fourth quarter worth about $11,438,000. Mirae Asset Global Investments Co. Ltd. increased its position in Thomson Reuters by 37.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,605 shares of the business services provider's stock worth $11,786,000 after purchasing an additional 21,793 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Thomson Reuters by 3.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 26,284 shares of the business services provider's stock worth $3,804,000 after purchasing an additional 936 shares during the last quarter. Tritonpoint Wealth LLC acquired a new stake in Thomson Reuters during the fourth quarter worth about $673,000. Finally, Prime Capital Investment Advisors LLC acquired a new stake in Thomson Reuters during the fourth quarter worth about $2,954,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Stock Performance

Shares of NYSE TRI traded up $0.59 during midday trading on Tuesday, reaching $154.56. 210,703 shares of the company traded hands, compared to its average volume of 305,240. Thomson Reuters Co. has a 52 week low of $117.46 and a 52 week high of $161.57. The stock has a 50-day moving average price of $155.76 and a 200 day moving average price of $142.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $69.77 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 3.96 and a beta of 0.65.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same period in the previous year, the business earned $0.76 earnings per share. Thomson Reuters's revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Thomson Reuters Co. will post 3.58 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 21st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.40%. The ex-dividend date was Tuesday, February 20th. This is an increase from Thomson Reuters's previous quarterly dividend of $0.49. Thomson Reuters's payout ratio is presently 36.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TRI shares. TD Securities lifted their price target on shares of Thomson Reuters from $210.00 to $225.00 and gave the company a "hold" rating in a research report on Wednesday, March 13th. National Bank Financial cut shares of Thomson Reuters from a "sector perform under weight" rating to an "underperform underweight" rating in a research report on Tuesday, February 20th. Royal Bank of Canada reiterated a "sector perform" rating and set a $153.00 price target on shares of Thomson Reuters in a research report on Wednesday, March 13th. Barclays raised shares of Thomson Reuters from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $150.00 to $180.00 in a research report on Thursday, March 14th. Finally, CIBC increased their target price on Thomson Reuters from $146.00 to $152.00 and gave the company a "neutral" rating in a research note on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $157.42.

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.