PCJ Investment Counsel Ltd. Buys 1,500 Shares of Thomson Reuters Co. (NYSE:TRI)

PCJ Investment Counsel Ltd. lifted its holdings in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 19.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,076 shares of the business services provider's stock after purchasing an additional 1,500 shares during the period. PCJ Investment Counsel Ltd.'s holdings in Thomson Reuters were worth $1,456,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Decker Retirement Planning Inc. bought a new stake in shares of Thomson Reuters during the 4th quarter worth $26,000. SBI Securities Co. Ltd. purchased a new stake in Thomson Reuters in the 4th quarter worth about $27,000. Noble Wealth Management PBC purchased a new stake in Thomson Reuters in the 4th quarter worth about $33,000. Ashton Thomas Securities LLC purchased a new stake in Thomson Reuters in the 3rd quarter worth about $47,000. Finally, Nisa Investment Advisors LLC increased its holdings in Thomson Reuters by 67.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 496 shares of the business services provider's stock worth $85,000 after acquiring an additional 200 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $175.00 to $177.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Canaccord Genuity Group lifted their price objective on Thomson Reuters from $164.00 to $175.00 and gave the stock a "hold" rating in a report on Friday, February 7th. StockNews.com raised Thomson Reuters from a "sell" rating to a "hold" rating in a report on Thursday, March 6th. The Goldman Sachs Group lifted their price objective on Thomson Reuters from $168.00 to $188.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, CIBC lifted their target price on Thomson Reuters from $165.00 to $174.00 in a report on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $182.09.

Remove Ads

Thomson Reuters Price Performance

Shares of TRI traded down $0.67 during trading hours on Wednesday, reaching $171.02. 477,123 shares of the company's stock traded hands, compared to its average volume of 460,869. The stock has a market cap of $76.97 billion, a PE ratio of 34.97, a price-to-earnings-growth ratio of 5.67 and a beta of 0.70. 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 firm's 50 day simple moving average is $168.97 and its 200-day simple moving average is $167.73. Thomson Reuters Co. has a 12 month low of $149.50 and a 12 month high of $180.42.

Thomson Reuters (NYSE:TRI - Get Free Report) 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, beating analysts' consensus estimates of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. Equities analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 20th were given a $0.595 dividend. This is an increase from Thomson Reuters's previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a yield of 1.39%. Thomson Reuters's payout ratio is presently 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.