Addenda Capital Inc. Reduces Stake in Thomson Reuters Co. (NYSE:TRI)

Addenda Capital Inc. lowered its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 0.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 54,376 shares of the business services provider’s stock after selling 152 shares during the period. Addenda Capital Inc.’s holdings in Thomson Reuters were worth $8,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Thomson Reuters by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,698,178 shares of the business services provider’s stock valued at $833,188,000 after buying an additional 52,138 shares during the last quarter. FIL Ltd lifted its holdings in Thomson Reuters by 9.8% in the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after acquiring an additional 445,444 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Thomson Reuters by 6.2% in the third quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock valued at $500,872,000 after acquiring an additional 240,148 shares during the period. TD Asset Management Inc lifted its holdings in Thomson Reuters by 30.8% in the fourth quarter. TD Asset Management Inc now owns 3,752,472 shares of the business services provider’s stock valued at $551,317,000 after acquiring an additional 884,572 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in Thomson Reuters by 0.8% in the fourth quarter. 1832 Asset Management L.P. now owns 1,783,086 shares of the business services provider’s stock valued at $260,723,000 after acquiring an additional 13,747 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Price Performance

NYSE TRI traded down $1.97 during mid-day trading on Friday, hitting $168.52. The stock had a trading volume of 330,642 shares, compared to its average volume of 350,333. The firm’s 50 day moving average is $166.65 and its 200 day moving average is $156.77. Thomson Reuters Co. has a twelve month low of $117.46 and a twelve month high of $176.03. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $75.77 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 6.43 and a beta of 0.71.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.94 by $0.17. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the company earned $0.85 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts forecast that Thomson Reuters Co. will post 3.67 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.28%. The ex-dividend date was Wednesday, May 15th. Thomson Reuters’s dividend payout ratio is currently 40.57%.

Wall Street Analyst Weigh In

TRI has been the subject of a number of analyst reports. CIBC boosted their price target on Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Royal Bank of Canada boosted their price target on Thomson Reuters from $153.00 to $156.00 and gave the company a “sector perform” rating in a report on Tuesday, April 30th. Barclays raised Thomson Reuters from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $150.00 to $180.00 in a report on Thursday, March 14th. JPMorgan Chase & Co. upped their target price on Thomson Reuters from $152.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Canaccord Genuity Group upped their target price on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $170.64.

Thomson Reuters 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.