K.J. Harrison & Partners Inc Sells 20,000 Shares of Thomson Reuters Co. (NYSE:TRI)

K.J. Harrison & Partners Inc reduced its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 90.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,115 shares of the business services provider’s stock after selling 20,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Thomson Reuters were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of TRI. Fifth Third Bancorp lifted its position in shares of Thomson Reuters by 25.7% in the fourth quarter. Fifth Third Bancorp now owns 382 shares of the business services provider’s stock valued at $56,000 after buying an additional 78 shares during the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of Thomson Reuters by 0.7% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 12,685 shares of the business services provider’s stock valued at $1,855,000 after acquiring an additional 82 shares in the last quarter. Advisor OS LLC increased its holdings in shares of Thomson Reuters by 5.2% during the third quarter. Advisor OS LLC now owns 1,730 shares of the business services provider’s stock worth $212,000 after purchasing an additional 86 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Thomson Reuters by 1.3% in the third quarter. Commonwealth Equity Services LLC now owns 7,331 shares of the business services provider’s stock valued at $897,000 after buying an additional 93 shares in the last quarter. Finally, Financial Advocates Investment Management boosted its stake in shares of Thomson Reuters by 3.7% in the third quarter. Financial Advocates Investment Management now owns 2,771 shares of the business services provider’s stock valued at $340,000 after buying an additional 98 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TRI shares. Scotiabank increased their target price on Thomson Reuters from $142.00 to $159.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. TD Securities raised their target price on Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $153.00 target price on shares of Thomson Reuters in a research note on Wednesday, March 13th. National Bank Financial upgraded shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research note on Tuesday. Finally, CIBC increased their price objective on shares of Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $157.42.

Thomson Reuters Stock Performance

TRI stock traded up $1.83 during mid-day trading on Friday, hitting $154.40. The company had a trading volume of 278,801 shares, compared to its average volume of 270,268. Thomson Reuters Co. has a 12 month low of $117.46 and a 12 month high of $161.57. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s fifty day moving average price is $155.53 and its two-hundred day moving average price is $145.34. The firm has a market cap of $69.70 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 3.97 and a beta of 0.65.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Thomson Reuters had a return on equity of 14.01% and a net margin of 39.67%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 EPS. On average, analysts forecast that Thomson Reuters Co. will post 3.58 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 21st were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.49. This represents a $2.16 annualized dividend and a dividend yield of 1.40%. Thomson Reuters’s dividend payout ratio (DPR) is 36.99%.

About Thomson Reuters

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.