Hillsdale Investment Management Inc. Cuts Holdings in Thomson Reuters Co. $TRI

Hillsdale Investment Management Inc. reduced its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 27.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,688 shares of the business services provider’s stock after selling 6,741 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Thomson Reuters were worth $2,746,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. AGF Management Ltd. increased its position in shares of Thomson Reuters by 186.8% in the third quarter. AGF Management Ltd. now owns 870,312 shares of the business services provider’s stock valued at $135,592,000 after buying an additional 566,908 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in Thomson Reuters in the 3rd quarter valued at $3,485,000. Profund Advisors LLC acquired a new stake in Thomson Reuters in the 3rd quarter valued at $5,061,000. JCIC Asset Management Inc. purchased a new stake in Thomson Reuters in the 3rd quarter worth $4,015,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in Thomson Reuters during the third quarter worth $10,117,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Trading Down 2.3%

TRI opened at $83.20 on Monday. The firm has a market capitalization of $37.03 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 5.67 and a beta of 0.79. The company’s 50 day simple moving average is $115.79 and its two-hundred day simple moving average is $141.75. Thomson Reuters Co. has a 1-year low of $81.91 and a 1-year high of $218.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94.

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

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.655 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.62 annualized dividend and a dividend yield of 3.1%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.60. Thomson Reuters’s payout ratio is presently 78.68%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Scotiabank reiterated an “outperform” rating and issued a $156.00 target price (down previously from $189.00) on shares of Thomson Reuters in a research report on Friday, February 6th. Wells Fargo & Company set a $140.00 price objective on Thomson Reuters and gave the stock an “overweight” rating in a report on Wednesday, February 4th. The Goldman Sachs Group set a $111.00 price objective on Thomson Reuters and gave the stock a “buy” rating in a research note on Saturday, February 7th. BMO Capital Markets set a $165.00 target price on Thomson Reuters in a research report on Friday, February 6th. Finally, TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a research report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $156.42.

Thomson Reuters Company 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.