Hilton Capital Management LLC Reduces Position in Thomson Reuters Co. (NYSE:TRI)

Hilton Capital Management LLC decreased its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 10.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 74,281 shares of the business services provider’s stock after selling 8,888 shares during the quarter. Thomson Reuters comprises about 1.0% of Hilton Capital Management LLC’s holdings, making the stock its 24th biggest position. Hilton Capital Management LLC’s holdings in Thomson Reuters were worth $11,913,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TRI. National Bank of Canada FI grew its holdings in shares of Thomson Reuters by 115.7% during the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock worth $164,292,000 after buying an additional 516,715 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Thomson Reuters by 52.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock worth $185,011,000 after buying an additional 395,481 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Thomson Reuters by 11.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after buying an additional 255,387 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Thomson Reuters by 909.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,993 shares of the business services provider’s stock worth $35,815,000 after buying an additional 189,199 shares in the last quarter. Finally, AGF Management Ltd. grew its holdings in shares of Thomson Reuters by 60.7% during the fourth quarter. AGF Management Ltd. now owns 462,241 shares of the business services provider’s stock worth $74,698,000 after buying an additional 174,546 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. CIBC upped their price objective on shares of Thomson Reuters from $165.00 to $174.00 in a report on Friday, February 7th. Canaccord Genuity Group upped their price objective on shares of Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a report on Friday, February 7th. StockNews.com raised shares of Thomson Reuters from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Wells Fargo & Company upped their price objective on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Thomson Reuters has a consensus rating of “Hold” and a consensus target price of $177.80.

Thomson Reuters Trading Down 0.6 %

NYSE TRI opened at $170.01 on Friday. The firm’s 50-day moving average is $169.35 and its two-hundred day moving average is $167.76. Thomson Reuters Co. has a 12 month low of $149.50 and a 12 month high of $180.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The stock has a market capitalization of $76.51 billion, a P/E ratio of 34.77, a PEG ratio of 5.67 and a beta of 0.70.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. On average, sell-side analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 20th were given a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Thursday, February 20th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s dividend payout ratio is currently 48.67%.

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.