Addenda Capital Inc. Sells 155 Shares of Thomson Reuters Co. (NYSE:TRI)

Addenda Capital Inc. decreased its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 0.3% during the fourth quarter, HoldingsChannel reports. The fund owned 54,215 shares of the business services provider’s stock after selling 155 shares during the quarter. Addenda Capital Inc.’s holdings in Thomson Reuters were worth $8,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Avanza Fonder AB bought a new position in shares of Thomson Reuters in the fourth quarter worth $1,391,000. Decker Retirement Planning Inc. bought a new position in shares of Thomson Reuters in the fourth quarter worth $26,000. Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of Thomson Reuters by 0.8% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 205,336 shares of the business services provider’s stock worth $32,974,000 after purchasing an additional 1,601 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Thomson Reuters by 26.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,546 shares of the business services provider’s stock worth $409,000 after purchasing an additional 526 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Thomson Reuters by 23.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,966 shares of the business services provider’s stock worth $958,000 after purchasing an additional 1,145 shares during the period. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

NYSE TRI opened at $159.37 on Tuesday. The company has a 50-day simple moving average of $163.04 and a two-hundred day simple moving average of $165.33. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. Thomson Reuters Co. has a 12-month low of $148.08 and a 12-month high of $176.03. The firm has a market cap of $71.72 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 5.03 and a beta of 0.72.

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

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.54 per share. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, November 21st. Thomson Reuters’s dividend payout ratio is currently 42.52%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Thomson Reuters in a report on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price target on the stock. StockNews.com raised shares of Thomson Reuters from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Scotiabank increased their target price on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. CIBC increased their target price on Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Finally, Royal Bank of Canada increased their target price on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Thomson Reuters presently has a consensus rating of “Hold” and a consensus price target of $176.10.

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.