Citigroup Inc. Sells 4,997 Shares of Thomson Reuters Co. (NYSE:TRI)

Citigroup Inc. cut its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,047 shares of the business services provider’s stock after selling 4,997 shares during the quarter. Citigroup Inc.’s holdings in Thomson Reuters were worth $12,644,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings in shares of Thomson Reuters by 103.7% in the first quarter. Advisors Asset Management Inc. now owns 2,261 shares of the business services provider’s stock valued at $352,000 after purchasing an additional 1,151 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Thomson Reuters by 23.8% in the 1st quarter. Janus Henderson Group PLC now owns 16,770 shares of the business services provider’s stock valued at $2,612,000 after acquiring an additional 3,223 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in Thomson Reuters by 6.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 5,338 shares of the business services provider’s stock worth $832,000 after acquiring an additional 324 shares during the last quarter. Atria Investments Inc bought a new stake in shares of Thomson Reuters during the first quarter worth approximately $1,006,000. Finally, Cetera Advisors LLC boosted its holdings in shares of Thomson Reuters by 12.0% during the first quarter. Cetera Advisors LLC now owns 3,172 shares of the business services provider’s stock worth $494,000 after acquiring an additional 341 shares during the period. Institutional investors own 17.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TRI. Royal Bank of Canada lifted their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Scotiabank raised their price target on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. Finally, National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $175.20.

Thomson Reuters Stock Up 0.6 %

Shares of TRI opened at $161.70 on Friday. The firm has a 50 day simple moving average of $166.69 and a two-hundred day simple moving average of $167.08. The company has a market cap of $72.75 billion, a P/E ratio of 31.83, a P/E/G ratio of 5.44 and a beta of 0.73. Thomson Reuters Co. has a one year low of $138.57 and a one year high of $176.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company earned $0.82 EPS. Thomson Reuters’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts forecast that Thomson Reuters Co. will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, November 21st. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 annualized dividend and a dividend yield of 1.34%. Thomson Reuters’s payout ratio is 42.52%.

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.