Bank of New York Mellon Corp Trims Stake in Thomson Reuters Corp $TRI

Bank of New York Mellon Corp cut its position in Thomson Reuters Corp (NASDAQ:TRI) by 16.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 412,082 shares of the company’s stock after selling 80,989 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.09% of Thomson Reuters worth $37,079,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in Thomson Reuters in the fourth quarter valued at approximately $30,000. Timmons Wealth Management LLC purchased a new position in shares of Thomson Reuters during the fourth quarter worth approximately $42,000. Montag A & Associates Inc. purchased a new position in shares of Thomson Reuters during the fourth quarter worth approximately $43,000. J.Safra Asset Management Corp acquired a new position in shares of Thomson Reuters in the 4th quarter valued at $56,000. Finally, Fifth Third Bancorp increased its holdings in shares of Thomson Reuters by 135.8% in the 1st quarter. Fifth Third Bancorp now owns 823 shares of the company’s stock valued at $74,000 after acquiring an additional 474 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of NASDAQ:TRI opened at $90.15 on Friday. Thomson Reuters Corp has a 52 week low of $76.28 and a 52 week high of $206.45. The company has a 50-day moving average price of $86.04 and a 200 day moving average price of $95.30. The company has a market cap of $39.27 billion, a P/E ratio of 26.23, a PEG ratio of 1.34 and a beta of 0.77. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11.

Thomson Reuters (NASDAQ:TRI) last released its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.05. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2 billion. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. Research analysts predict that Thomson Reuters Corp will post 4.44 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Thomson Reuters’s dividend payout ratio is currently 76.16%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group set a $185.74 price target on shares of Thomson Reuters and gave the company a “buy” rating in a research report on Thursday, April 23rd. Wells Fargo & Company set a $85.00 price objective on shares of Thomson Reuters and gave the stock an “equal weight” rating in a research report on Tuesday, June 30th. Barclays restated an “overweight” rating and issued a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. Argus started coverage on shares of Thomson Reuters in a report on Wednesday, April 22nd. They issued a “hold” rating for the company. Finally, Weiss Ratings downgraded shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Thomson Reuters presently has an average rating of “Moderate Buy” and a consensus price target of $143.92.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.