Intact Investment Management Inc. Purchases 74,189 Shares of Thomson Reuters Co. (NYSE:TRI)

Intact Investment Management Inc. raised its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 8,152.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,099 shares of the business services provider's stock after buying an additional 74,189 shares during the period. Intact Investment Management Inc.'s holdings in Thomson Reuters were worth $12,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRI. Strategic Investment Advisors MI raised its stake in Thomson Reuters by 2.7% during the fourth quarter. Strategic Investment Advisors MI now owns 2,318 shares of the business services provider's stock worth $372,000 after acquiring an additional 62 shares during the period. NewSquare Capital LLC increased its stake in shares of Thomson Reuters by 1.5% in the fourth quarter. NewSquare Capital LLC now owns 4,335 shares of the business services provider's stock valued at $695,000 after purchasing an additional 62 shares during the period. Pacer Advisors Inc. increased its stake in shares of Thomson Reuters by 5.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,196 shares of the business services provider's stock valued at $192,000 after purchasing an additional 64 shares during the period. SkyView Investment Advisors LLC increased its stake in shares of Thomson Reuters by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 4,235 shares of the business services provider's stock valued at $722,000 after purchasing an additional 66 shares during the period. Finally, Addison Advisors LLC increased its stake in shares of Thomson Reuters by 5.7% in the fourth quarter. Addison Advisors LLC now owns 1,271 shares of the business services provider's stock valued at $204,000 after purchasing an additional 68 shares during the period. 17.31% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

TRI has been the topic of several analyst reports. CIBC raised their price target on shares of Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. StockNews.com upgraded shares of Thomson Reuters from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. raised their price objective on shares of Thomson Reuters from $175.00 to $177.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Canaccord Genuity Group raised their price objective on shares of Thomson Reuters from $164.00 to $175.00 and gave the company a "hold" rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company raised their price objective on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $177.56.

Thomson Reuters Stock Up 1.3 %

TRI stock traded up $2.16 during midday trading on Friday, reaching $172.17. The company had a trading volume of 344,012 shares, compared to its average volume of 457,862. Thomson Reuters Co. has a 1 year low of $149.50 and a 1 year high of $180.42. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $77.49 billion, a P/E ratio of 35.21, a PEG ratio of 5.67 and a beta of 0.70. The company has a 50 day moving average of $169.55 and a two-hundred day moving average of $167.78.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, equities research analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal 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 issued a dividend of $0.595 per share. The ex-dividend date was Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase from Thomson Reuters's previous quarterly dividend of $0.54. Thomson Reuters's dividend payout ratio (DPR) is currently 48.67%.

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.