Cumberland Partners Ltd Sells 99,516 Shares of Thomson Reuters Co. $TRI

Cumberland Partners Ltd cut its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 87.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,738 shares of the business services provider’s stock after selling 99,516 shares during the quarter. Cumberland Partners Ltd’s holdings in Thomson Reuters were worth $2,132,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TRI. Vanguard Group Inc. increased its position in shares of Thomson Reuters by 1.3% during the third quarter. Vanguard Group Inc. now owns 5,690,956 shares of the business services provider’s stock valued at $883,680,000 after buying an additional 73,725 shares during the period. TLT Family Holdco ULC bought a new position in shares of Thomson Reuters in the second quarter valued at approximately $865,442,000. LCC Family Corp. purchased a new position in Thomson Reuters during the second quarter valued at approximately $813,253,000. SEG Family Corp. purchased a new position in shares of Thomson Reuters during the 2nd quarter valued at $659,930,000. Finally, Fiera Capital Corp grew its position in shares of Thomson Reuters by 1.1% during the 2nd quarter. Fiera Capital Corp now owns 2,518,855 shares of the business services provider’s stock valued at $506,211,000 after purchasing an additional 26,588 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Up 3.0%

Shares of NYSE TRI opened at $85.69 on Thursday. The stock has a market capitalization of $38.13 billion, a P/E ratio of 17.52, a PEG ratio of 5.67 and a beta of 0.79. Thomson Reuters Co. has a one year low of $81.91 and a one year high of $218.42. The firm’s 50 day simple moving average is $117.67 and its two-hundred day simple moving average is $143.66. 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 announced its quarterly earnings data on Thursday, February 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. As a group, analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TRI. TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a research report on Friday, February 6th. Morgan Stanley set a $116.00 price target on Thomson Reuters in a report on Friday, February 6th. JPMorgan Chase & Co. cut their price objective on Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, February 6th. BMO Capital Markets set a $165.00 price objective on shares of Thomson Reuters in a research report on Friday, February 6th. Finally, UBS Group set a $131.50 target price on shares of Thomson Reuters in a research note on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Thomson Reuters currently has an average rating of “Moderate Buy” and a consensus price target 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.