Park Avenue Securities LLC Reduces Position in Thomson Reuters Co. (NYSE:TRI)

Park Avenue Securities LLC lowered its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 16.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,136 shares of the business services provider’s stock after selling 410 shares during the period. Park Avenue Securities LLC’s holdings in Thomson Reuters were worth $369,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Curio Wealth LLC purchased a new position in shares of Thomson Reuters in the fourth quarter worth $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Thomson Reuters in the 4th quarter worth about $27,000. Investment Management Corp VA ADV purchased a new stake in shares of Thomson Reuters in the 4th quarter worth about $29,000. Noble Wealth Management PBC purchased a new stake in shares of Thomson Reuters in the 4th quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Thomson Reuters by 60.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider’s stock worth $58,000 after buying an additional 136 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Stock Down 1.0%

NYSE TRI opened at $195.20 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $186.98 and a two-hundred day moving average of $174.96. The firm has a market capitalization of $87.93 billion, a price-to-earnings ratio of 39.92, a PEG ratio of 5.67 and a beta of 0.77. Thomson Reuters Co. has a 52 week low of $150.01 and a 52 week high of $199.11.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Thursday, May 1st. The business services provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.07. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $1.11 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were given a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Thursday, May 15th. Thomson Reuters’s dividend payout ratio (DPR) is presently 49.69%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TRI. Bank of America began coverage on shares of Thomson Reuters in a research report on Thursday, April 10th. They issued a “neutral” rating and a $180.00 target price on the stock. Royal Bank of Canada upped their price target on shares of Thomson Reuters from $182.00 to $185.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Scotiabank reissued a “sector perform” rating and issued a $188.00 target price on shares of Thomson Reuters in a report on Friday, May 2nd. JPMorgan Chase & Co. increased their price objective on shares of Thomson Reuters from $177.00 to $178.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Finally, TD Securities increased their price objective on shares of Thomson Reuters from $177.00 to $182.00 and gave the company a “sector perform” rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $183.70.

Thomson Reuters Company 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.