Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Thomson Reuters Company (NYSE: TRI – Receive Rating) (TSE: TRI) by 32.3% during the second quarter, Holdings Channel reported. The firm owned 18,747 shares of the business services provider’s stock after selling 8,949 shares during the quarter. At the end of the most recent quarter, Mitsubishi UFJ Trust & Banking Corp’s holdings in Thomson Reuters were worth $3,245,000.
Several other institutional investors and hedge funds also modified their holdings of the stock. Comerica Bank raised its holding in Thomson Reuters shares by 1.3% during the first quarter. Comerica Bank now owns 9,059 shares of the business services provider’s stock valued at $969,000 after acquiring an additional 112 shares in the last quarter. Cetera Advisor Networks LLC boosted its holding in Thomson Reuters to 7.0% in the first quarter. Citera Advisor Networks LLC now owns 1,945 shares of the business services provider’s stock worth $212,000 after buying an additional 128 shares in the last quarter. Glassman Wealth Services increased its stake in Thomson Reuters to 64.1% in the second quarter. Glassman Wealth Services now owns 343 shares of the business services provider valued at $36,000 after buying an additional 134 shares in the last quarter. Parallels Advisors LLC increased its stake in Thomson Reuters to 6.4% in the second quarter. Parallel Advisors LLC now owns 2,448 shares of the business services provider valued at $255,000 after buying an additional 148 shares in the last quarter. Finally, Stephens Inc. AR boosted its position in Thomson Reuters by 8.2% during the second quarter. After acquiring an additional 195 shares during the previous quarter, Stephens Inc. The AR now owns 2,568 shares of the business services provider valued at $268,000. 21.18% of the stock is currently held by hedge funds and other institutional investors.
Wall Street analysts weigh in
Several research analysts have weighed on TRI shares. Canaccord Genuity Group raised its target price on shares of Thomson Reuters from $115.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, August 5. StockNews.com initiated coverage on shares of Thomson Reuters in a research report on Wednesday, October 12. They set a “Hold” rating for the company. BMO Capital Markets raised its target price on shares of Thomson Reuters from $160.00 to $165.00 in a research report on Wednesday, November 2. Canaccord Genuity Group raised its target price on shares of Thomson Reuters from $115.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, August 8. Finally, Morgan Stanley reduced its target price on shares of Thomson Reuters from $112.00 to $108.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 2. Three investment analysts have a hold rating on the company and six have a buy rating on the company. The company currently has an average rating of “medium buy” and an average target price of $124.67, according to data from MarketBeat.com.
Thomson Reuters stock up 1.5%
On Friday, shares of TRI opened at $113.55. The company’s 50-day simple moving average is $105.97 and 200-day simple moving average is $105.26. The firm has a market capitalization of $54.61 billion, a P/E ratio of 58.83, a P/E/G ratio of 4.10, and a beta of 0.56. The debt-to-equity ratio of the company is 0.30, quick ratio is 0.68 and current ratio is 0.68. The Thomson Reuters Company has a 52-week low of $91.55 and a 52-week high of $123.60.
Thomson Reuters cuts dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. A dividend of $0.322 per share will be paid to shareholders of record on Thursday, November 17. This represents a $1.29 dividend and a dividend yield of 1.13% on an annualized basis. The ex-dividend date is Wednesday, November 16. Thomson Reuters’ dividend payout ratio currently stands at 92.23%.
About Thomson Reuters
Thomson Reuters Corporation provides business information services in the Americas, Europe, the Middle East, Africa and Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax and Accounting Professionals, Reuters News and Global Print. The Legal Professionals segment offers research and workflow products focused on legal research and integrated legal workflow solutions that combine content, tools and analytics for law firms and governments.
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