IMS Capital Management Trims Stock Position in Thomson Reuters Co. (NYSE:TRI)

IMS Capital Management trimmed its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,143 shares of the business services provider’s stock after selling 100 shares during the quarter. IMS Capital Management’s holdings in Thomson Reuters were worth $504,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Aigen Investment Management LP increased its position in shares of Thomson Reuters by 87.4% in the third quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider’s stock valued at $1,250,000 after buying an additional 3,417 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in Thomson Reuters during the third quarter valued at $4,506,000. Atomi Financial Group Inc. grew its position in shares of Thomson Reuters by 16.1% in the fourth quarter. Atomi Financial Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $292,000 after purchasing an additional 252 shares during the period. Icon Wealth Advisors LLC increased its stake in shares of Thomson Reuters by 547.4% during the third quarter. Icon Wealth Advisors LLC now owns 7,943 shares of the business services provider’s stock worth $1,355,000 after purchasing an additional 6,716 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in shares of Thomson Reuters during the 3rd quarter worth about $2,127,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRI has been the topic of several research analyst reports. Canaccord Genuity Group lifted their price objective on Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a report on Friday, February 7th. The Goldman Sachs Group lifted their price target on Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Royal Bank of Canada increased their price objective on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. CIBC lifted their target price on shares of Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. Finally, Wells Fargo & Company upped their target price on shares of Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $182.09.

Thomson Reuters Stock Up 1.7 %

Shares of NYSE TRI opened at $178.93 on Friday. The company has a market capitalization of $80.52 billion, a P/E ratio of 36.59, a P/E/G ratio of 5.59 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. The company has a 50 day simple moving average of $164.97 and a 200-day simple moving average of $165.81. Thomson Reuters Co. has a 1 year low of $149.50 and a 1 year high of $179.45.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.78% and a net margin of 30.45%. On average, equities research analysts predict that Thomson Reuters Co. will post 3.96 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Thursday, February 20th will be given a $0.595 dividend. The ex-dividend date is Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a yield of 1.33%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s dividend payout ratio is presently 44.17%.

About Thomson Reuters

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.