Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,492,762 shares of the business services provider's stock after selling 85,143 shares during the quarter. Thomson Reuters accounts for about 1.8% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 9th biggest position. Connor Clark & Lunn Investment Management Ltd. owned about 0.55% of Thomson Reuters worth $399,763,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Thomson Reuters in the fourth quarter valued at approximately $27,000. Aigen Investment Management LP grew its stake in Thomson Reuters by 87.4% in the third quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider's stock valued at $1,250,000 after purchasing an additional 3,417 shares in the last quarter. Meridian Wealth Management LLC bought a new position in shares of Thomson Reuters during the 3rd quarter worth approximately $4,506,000. Atomi Financial Group Inc. lifted its holdings in Thomson Reuters by 16.1% during the 4th quarter. Atomi Financial Group Inc. now owns 1,819 shares of the business services provider's stock worth $292,000 after purchasing an additional 252 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Thomson Reuters by 52.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider's stock worth $185,011,000 after purchasing an additional 395,481 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.
Thomson Reuters Trading Up 1.3 %
NYSE TRI traded up $2.16 during trading hours on Friday, hitting $172.17. 344,012 shares of the company's stock were exchanged, compared to its average volume of 457,862. The stock has a 50-day simple moving average of $169.55 and a 200 day simple moving average of $167.76. Thomson Reuters Co. has a 1-year low of $149.50 and a 1-year high of $180.42. The firm has a market cap of $77.49 billion, a price-to-earnings ratio of 35.21, a PEG 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.
Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 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%. On average, equities analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.
Thomson Reuters Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were paid a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, February 20th. This is a boost from Thomson Reuters's previous quarterly dividend of $0.54. Thomson Reuters's dividend payout ratio (DPR) is 48.67%.
Wall Street Analysts Forecast Growth
TRI has been the subject of a number of recent analyst reports. StockNews.com upgraded Thomson Reuters from a "sell" rating to a "hold" rating in a research report on Thursday, March 6th. Wells Fargo & Company upped their target price on Thomson Reuters from $165.00 to $177.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. CIBC upped their target price on Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. The Goldman Sachs Group upped their target price on Thomson Reuters from $168.00 to $188.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, Scotiabank upped their price objective on Thomson Reuters from $187.00 to $188.00 and gave the stock a "sector outperform" rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $177.56.
View Our Latest Analysis on Thomson Reuters
About Thomson Reuters
(
Free Report)
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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