Renaissance Technologies LLC Grows Position in Thomson Reuters Co. (NYSE:TRI)

Renaissance Technologies LLC raised its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,800 shares of the business services provider's stock after acquiring an additional 3,500 shares during the quarter. Renaissance Technologies LLC's holdings in Thomson Reuters were worth $3,977,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. acquired a new position in shares of Thomson Reuters during the fourth quarter worth $26,000. Curio Wealth LLC purchased a new stake in Thomson Reuters during the 4th quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Thomson Reuters during the 4th quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in shares of Thomson Reuters in the 4th quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Thomson Reuters by 60.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider's stock worth $58,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Analysts Set New Price Targets

TRI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on Thomson Reuters from $175.00 to $177.00 and gave the company a "neutral" rating in a report on Friday, February 7th. The Goldman Sachs Group increased their target price on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Scotiabank boosted their price target on shares of Thomson Reuters from $187.00 to $188.00 and gave the company a "sector outperform" rating in a research report on Friday, February 7th. Canaccord Genuity Group raised 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. Finally, Bank of America assumed coverage on Thomson Reuters in a report on Thursday, April 10th. They issued a "neutral" rating and a $180.00 target price for the company. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Thomson Reuters presently has an average rating of "Hold" and an average price target of $177.80.

Thomson Reuters Stock Up 1.2 %

TRI opened at $182.26 on Wednesday. The business has a 50 day moving average price of $173.77 and a two-hundred day moving average price of $168.32. Thomson Reuters Co. has a 52 week low of $149.80 and a 52 week high of $184.11. The company has a market cap of $82.03 billion, a PE ratio of 37.27, a P/E/G ratio of 5.67 and a beta of 0.70. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

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 for the quarter, topping the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. As a group, research analysts anticipate that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 20th were issued a dividend of $0.595 per share. This is a boost from Thomson Reuters's previous quarterly dividend of $0.54. This represents a $2.38 annualized dividend and a yield of 1.31%. The ex-dividend date was Thursday, February 20th. Thomson Reuters's dividend payout ratio is currently 48.67%.

Thomson Reuters 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.

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