Cumberland Partners Ltd Has $19.73 Million Holdings in Thomson Reuters Co. (NYSE:TRI)

Cumberland Partners Ltd trimmed its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 45.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 115,580 shares of the business services provider’s stock after selling 97,592 shares during the quarter. Thomson Reuters accounts for approximately 1.4% of Cumberland Partners Ltd’s investment portfolio, making the stock its 24th biggest holding. Cumberland Partners Ltd’s holdings in Thomson Reuters were worth $19,733,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TRI. Rothschild Investment LLC bought a new position in Thomson Reuters in the second quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its position in shares of Thomson Reuters by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after purchasing an additional 80 shares during the period. Asset Dedication LLC lifted its holdings in shares of Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock worth $40,000 after purchasing an additional 130 shares in the last quarter. Clean Yield Group acquired a new stake in Thomson Reuters in the 3rd quarter valued at $42,000. Finally, Ashton Thomas Securities LLC acquired a new position in Thomson Reuters during the third quarter worth $47,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TRI. Royal Bank of Canada boosted their target price on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. StockNews.com lowered Thomson Reuters from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Scotiabank upped their target price on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Thomson Reuters presently has a consensus rating of “Hold” and an average price target of $176.33.

Thomson Reuters Stock Performance

TRI traded down $1.43 during trading hours on Tuesday, hitting $167.92. The stock had a trading volume of 11,867 shares, compared to its average volume of 352,808. The stock has a market cap of $75.54 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 5.69 and a beta of 0.73. Thomson Reuters Co. has a 1 year low of $130.23 and a 1 year high of $176.03. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $168.59 and its 200 day simple moving average is $167.03.

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 company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts anticipate that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 21st. Thomson Reuters’s payout ratio is presently 42.52%.

Thomson Reuters Company 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.