Greenleaf Trust Acquires 153 Shares of Thomson Reuters Co. (NYSE:TRI)

Greenleaf Trust increased its holdings in shares of Thomson Reuters Co. (NYSE:TRIGet Rating) (TSE:TRI) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,162 shares of the business services provider’s stock after purchasing an additional 153 shares during the quarter. Greenleaf Trust’s holdings in Thomson Reuters were worth $746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mackenzie Financial Corp increased its position in Thomson Reuters by 67.3% during the first quarter. Mackenzie Financial Corp now owns 7,105,567 shares of the business services provider’s stock valued at $772,664,000 after acquiring an additional 2,859,546 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Thomson Reuters by 5,493.1% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 492,364 shares of the business services provider’s stock valued at $53,441,000 after acquiring an additional 483,561 shares during the last quarter. AGF Investments Inc. increased its position in Thomson Reuters by 105.3% during the first quarter. AGF Investments Inc. now owns 938,895 shares of the business services provider’s stock valued at $101,937,000 after acquiring an additional 481,546 shares during the last quarter. Allianz Asset Management GmbH increased its position in Thomson Reuters by 153.9% during the first quarter. Allianz Asset Management GmbH now owns 752,392 shares of the business services provider’s stock valued at $81,761,000 after acquiring an additional 456,035 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Thomson Reuters by 438.0% during the second quarter. Envestnet Asset Management Inc. now owns 474,793 shares of the business services provider’s stock valued at $49,478,000 after acquiring an additional 386,547 shares during the last quarter. 21.18% of the stock is owned by institutional investors.

Thomson Reuters Stock Performance

NYSE:TRI opened at $115.50 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.30. Thomson Reuters Co. has a 12-month low of $91.55 and a 12-month high of $122.76. The stock has a 50-day moving average price of $106.01 and a 200 day moving average price of $105.59. The stock has a market capitalization of $55.54 billion, a P/E ratio of 59.84, a P/E/G ratio of 4.16 and a beta of 0.56.

Thomson Reuters Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be given a dividend of $0.322 per share. This represents a $1.29 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, November 16th. Thomson Reuters’s dividend payout ratio is currently 92.23%.

Analysts Set New Price Targets

A number of research firms recently commented on TRI. Canaccord Genuity Group upped their price objective on Thomson Reuters from $115.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, August 5th. BMO Capital Markets upped their price target on Thomson Reuters from $160.00 to $165.00 in a research report on Wednesday, November 2nd. Royal Bank of Canada reduced their price target on Thomson Reuters from $118.00 to $116.00 and set an “outperform” rating for the company in a research report on Wednesday, November 2nd. Morgan Stanley reduced their price target on Thomson Reuters from $112.00 to $108.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 2nd. Finally, Canaccord Genuity Group upped their price target on Thomson Reuters from $115.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.67.

About Thomson Reuters

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Thomson Reuters Corporation provides 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.

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Institutional Ownership by Quarter for Thomson Reuters (NYSE:TRI)

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