Miracle Mile Advisors LLC reduced its position in shares of Thomson Reuters Co. (NYSE:TRI – Get Rating) (TSE:TRI) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,154 shares of the business services provider’s stock after selling 189 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Thomson Reuters were worth $360,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Cigna Investments Inc. New raised its holdings in Thomson Reuters by 2.9% in the 2nd quarter. Cigna Investments Inc. New now owns 3,237 shares of the business services provider’s stock valued at $337,000 after buying an additional 90 shares during the last quarter. Value Partners Investments Inc. grew its position in Thomson Reuters by 3.9% in the 4th quarter. Value Partners Investments Inc. now owns 2,844 shares of the business services provider’s stock valued at $324,000 after purchasing an additional 106 shares during the period. Pacifica Partners Inc. boosted its holdings in Thomson Reuters by 19.7% during the 3rd quarter. Pacifica Partners Inc. now owns 717 shares of the business services provider’s stock worth $75,000 after acquiring an additional 118 shares during the last quarter. West Family Investments Inc. boosted its holdings in Thomson Reuters by 2.6% during the 3rd quarter. West Family Investments Inc. now owns 4,707 shares of the business services provider’s stock worth $483,000 after acquiring an additional 120 shares during the last quarter. Finally, Cetera Advisor Networks LLC boosted its holdings in Thomson Reuters by 7.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,945 shares of the business services provider’s stock worth $212,000 after acquiring an additional 128 shares during the last quarter. 20.84% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on TRI shares. TD Securities cut Thomson Reuters from a “buy” rating to a “hold” rating in a research note on Thursday, February 16th. Morgan Stanley upped their target price on Thomson Reuters from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, February 10th. The Goldman Sachs Group upped their target price on Thomson Reuters from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 10th. BMO Capital Markets boosted their price objective on Thomson Reuters from $161.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, February 14th. Finally, Barclays upped their target price on Thomson Reuters from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, December 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters currently has a consensus rating of “Hold” and an average price target of $138.00.
Thomson Reuters Price Performance
Thomson Reuters (NYSE:TRI – Get Rating) (TSE:TRI) last posted its quarterly earnings data on Thursday, February 9th. The business services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. Thomson Reuters had a return on equity of 9.58% and a net margin of 21.16%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the firm earned $0.43 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts forecast that Thomson Reuters Co. will post 3.31 EPS for the current year.
Thomson Reuters Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 16th. Stockholders of record on Thursday, February 23rd were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $1.96 annualized dividend and a dividend yield of 1.51%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.32. Thomson Reuters’s payout ratio is currently 68.06%.
Thomson Reuters Company Profile
Thomson Reuters Corp. engages in the provision of news and information for professional markets. It operates through the following segments: Legal Professionals, Corporates, Tax and Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment provides research and workflow products to law firms and government.
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