Summit Global Investments Sells 957 Shares of Thomson Reuters Co. (NYSE:TRI)

Summit Global Investments cut its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,077 shares of the business services provider’s stock after selling 957 shares during the period. Summit Global Investments’ holdings in Thomson Reuters were worth $5,129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in shares of Thomson Reuters by 17.3% in the 3rd quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock valued at $755,514,000 after purchasing an additional 919,603 shares during the last quarter. FMR LLC boosted its position in Thomson Reuters by 26.3% during the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock valued at $692,059,000 after acquiring an additional 1,179,155 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Thomson Reuters by 6.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock worth $500,872,000 after acquiring an additional 240,148 shares during the period. Bank of Nova Scotia bought a new position in shares of Thomson Reuters in the 3rd quarter worth about $170,036,000. Finally, Toronto Dominion Bank lifted its stake in shares of Thomson Reuters by 361.6% in the 3rd quarter. Toronto Dominion Bank now owns 1,142,194 shares of the business services provider’s stock valued at $139,713,000 after purchasing an additional 894,776 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Up 7.3 %

TRI traded up $11.13 during midday trading on Thursday, reaching $162.61. 1,239,386 shares of the company were exchanged, compared to its average volume of 316,681. The company has a market cap of $73.38 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 3.93 and a beta of 0.65. Thomson Reuters Co. has a one year low of $117.46 and a one year high of $165.92. The company’s fifty day moving average price is $155.15 and its 200 day moving average price is $145.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. Thomson Reuters had a return on equity of 14.01% and a net margin of 39.67%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. Thomson Reuters’s revenue was up 2.8% compared to the same quarter last year. As a group, analysts expect that Thomson Reuters Co. will post 3.58 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Wednesday, February 21st were given a dividend of $0.54 per share. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.49. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Tuesday, February 20th. Thomson Reuters’s dividend payout ratio (DPR) is presently 36.99%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRI. National Bank Financial raised Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, April 23rd. CIBC lifted their price objective on shares of Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. TD Securities increased their target price on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, March 13th. Scotiabank lifted their price target on shares of Thomson Reuters from $142.00 to $159.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. Finally, Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $150.00 to $180.00 in a research report on Thursday, March 14th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $157.67.

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.