Parallel Advisors LLC Cuts Stake in Thomson Reuters Co. (NYSE:TRI)

Parallel Advisors LLC lowered its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,514 shares of the business services provider’s stock after selling 160 shares during the quarter. Parallel Advisors LLC’s holdings in Thomson Reuters were worth $403,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Natixis Advisors LLC raised its holdings in Thomson Reuters by 4.2% during the fourth quarter. Natixis Advisors LLC now owns 14,427 shares of the business services provider’s stock worth $2,314,000 after purchasing an additional 584 shares in the last quarter. Intact Investment Management Inc. raised its stake in shares of Thomson Reuters by 8,152.6% during the 4th quarter. Intact Investment Management Inc. now owns 75,099 shares of the business services provider’s stock worth $12,057,000 after buying an additional 74,189 shares in the last quarter. Aviso Financial Inc. raised its stake in shares of Thomson Reuters by 0.9% during the 4th quarter. Aviso Financial Inc. now owns 74,163 shares of the business services provider’s stock worth $11,906,000 after buying an additional 687 shares in the last quarter. JPL Wealth Management LLC purchased a new position in Thomson Reuters in the fourth quarter worth $4,722,000. Finally, Skandinaviska Enskilda Banken AB publ raised its position in Thomson Reuters by 2.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 23,185 shares of the business services provider’s stock worth $3,735,000 after acquiring an additional 560 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TRI. StockNews.com upgraded shares of Thomson Reuters from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Scotiabank increased their target price on shares of Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a report on Friday, February 7th. Wells Fargo & Company raised their price objective on Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. CIBC raised their price objective on Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. Finally, Canaccord Genuity Group raised their price target on Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Thomson Reuters currently has an average rating of “Hold” and a consensus price target of $177.56.

Thomson Reuters Trading Down 0.0 %

Thomson Reuters stock opened at $170.01 on Friday. The stock has a market cap of $76.52 billion, a PE ratio of 34.77, a P/E/G ratio of 5.67 and a beta of 0.70. The stock has a 50-day moving average price of $170.78 and a 200 day moving average price of $167.83. Thomson Reuters Co. has a 52 week low of $149.50 and a 52 week high of $180.42. 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 (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Equities research analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 20th were given a $0.595 dividend. The ex-dividend date was Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s payout ratio is currently 48.67%.

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.