M&T Bank Corp Trims Stake in Thomson Reuters Co. (NYSE:TRI)

M&T Bank Corp trimmed its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 15.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,400 shares of the business services provider’s stock after selling 451 shares during the period. M&T Bank Corp’s holdings in Thomson Reuters were worth $415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Investment Management Corp VA ADV bought a new position in Thomson Reuters in the 4th quarter worth $29,000. EverSource Wealth Advisors LLC boosted its holdings in 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. MassMutual Private Wealth & Trust FSB boosted its holdings in Thomson Reuters by 25.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider’s stock worth $71,000 after buying an additional 84 shares during the period. Fifth Third Bancorp boosted its holdings in Thomson Reuters by 42.8% in the 1st quarter. Fifth Third Bancorp now owns 484 shares of the business services provider’s stock worth $84,000 after buying an additional 145 shares during the period. Finally, GeoWealth Management LLC boosted its holdings in Thomson Reuters by 1,306.6% in the 4th quarter. GeoWealth Management LLC now owns 858 shares of the business services provider’s stock worth $138,000 after buying an additional 797 shares during the period. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Stock Up 0.4%

Shares of NYSE TRI opened at $211.23 on Thursday. The firm’s 50-day moving average price is $196.32 and its 200-day moving average price is $180.27. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $95.17 billion, a price-to-earnings ratio of 43.20, a P/E/G ratio of 5.67 and a beta of 0.76. Thomson Reuters Co. has a 12-month low of $150.01 and a 12-month high of $218.42.

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

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were given a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Thursday, May 15th. Thomson Reuters’s dividend payout ratio is 49.69%.

Wall Street Analysts Forecast Growth

TRI has been the subject of several recent analyst reports. Scotiabank reaffirmed 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. upped their target price on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Wall Street Zen downgraded shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Friday, May 2nd. Bank of America began coverage on shares of Thomson Reuters in a report on Thursday, April 10th. They set a “neutral” rating and a $180.00 price objective for the company. Finally, Royal Bank Of Canada increased their price objective on shares of Thomson Reuters from $182.00 to $185.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Thomson Reuters presently has an average rating of “Hold” and a consensus price target of $187.30.

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.