Fiera Capital Corp Sells 240,988 Shares of Thomson Reuters Co. $TRI

Fiera Capital Corp decreased its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,277,867 shares of the business services provider’s stock after selling 240,988 shares during the period. Thomson Reuters makes up 1.1% of Fiera Capital Corp’s investment portfolio, making the stock its 28th largest holding. Fiera Capital Corp owned approximately 0.51% of Thomson Reuters worth $353,575,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Curio Wealth LLC lifted its holdings in Thomson Reuters by 16,200.0% in the second quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock worth $33,000 after buying an additional 162 shares during the period. Westside Investment Management Inc. purchased a new position in shares of Thomson Reuters in the 2nd quarter valued at approximately $34,000. AlphaCore Capital LLC purchased a new position in shares of Thomson Reuters in the 2nd quarter valued at approximately $39,000. Cullen Frost Bankers Inc. boosted its position in shares of Thomson Reuters by 50.0% during the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 83 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Thomson Reuters in the third quarter worth $57,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of NYSE TRI opened at $85.16 on Friday. The firm has a market cap of $37.90 billion, a P/E ratio of 17.42, a PEG ratio of 5.67 and a beta of 0.79. Thomson Reuters Co. has a twelve month low of $81.91 and a twelve month high of $218.42. 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 50 day moving average of $116.74 and a 200 day moving average of $143.26.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Thursday, February 5th. The business services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the company earned $1.01 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be given a $0.655 dividend. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.62 dividend on an annualized basis and a yield of 3.1%. Thomson Reuters’s payout ratio is presently 78.68%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TRI shares. Wells Fargo & Company set a $140.00 price objective on Thomson Reuters and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Canaccord Genuity Group lowered their price target on shares of Thomson Reuters from $174.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. JPMorgan Chase & Co. dropped their price objective on shares of Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. BMO Capital Markets set a $165.00 target price on shares of Thomson Reuters in a research note on Friday, February 6th. Finally, Scotiabank reissued an “outperform” rating and issued a $156.00 price target (down from $189.00) on shares of Thomson Reuters in a research report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Thomson Reuters has an average rating of “Moderate Buy” and a consensus price target of $156.42.

Thomson Reuters Profile

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.