MML Investors Services LLC Sells 5,761 Shares of Thomson Reuters Co. (NYSE:TRI)

MML Investors Services LLC cut its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 29.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,925 shares of the business services provider’s stock after selling 5,761 shares during the period. MML Investors Services LLC’s holdings in Thomson Reuters were worth $2,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI lifted its stake in shares of Thomson Reuters by 115.7% in the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock valued at $164,292,000 after buying an additional 516,715 shares during the period. Cibc World Market Inc. grew its holdings in shares of Thomson Reuters by 26.3% during the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock worth $223,525,000 after purchasing an additional 276,206 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Thomson Reuters in the second quarter valued at $45,514,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Thomson Reuters by 11.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after purchasing an additional 255,387 shares during the period. Finally, Toronto Dominion Bank boosted its stake in Thomson Reuters by 87.1% during the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock worth $85,136,000 after buying an additional 235,145 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRI has been the subject of a number of recent research reports. Wells Fargo & Company began coverage on shares of Thomson Reuters in a research note on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price objective for the company. Scotiabank increased their price objective on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Royal Bank of Canada boosted their target price on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. StockNews.com cut shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Finally, National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. One investment 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, Thomson Reuters presently has a consensus rating of “Hold” and an average price target of $175.20.

Thomson Reuters Trading Down 0.6 %

TRI opened at $168.10 on Monday. Thomson Reuters Co. has a 1-year low of $138.83 and a 1-year high of $176.03. The stock has a market capitalization of $75.63 billion, a PE ratio of 33.09, a PEG ratio of 5.69 and a beta of 0.71. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $166.14 and a two-hundred day moving average price of $166.72.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts anticipate that Thomson Reuters Co. will post 3.69 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.28%. Thomson Reuters’s payout ratio is 42.52%.

About Thomson Reuters

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.