Thomson Reuters Co. (NYSE:TRI) Position Lifted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 11.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,577,905 shares of the business services provider's stock after buying an additional 255,387 shares during the quarter. Thomson Reuters comprises approximately 2.1% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 7th largest position. Connor Clark & Lunn Investment Management Ltd. owned about 0.57% of Thomson Reuters worth $439,665,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TRI. Rothschild Investment LLC acquired a new position in Thomson Reuters in the second quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its stake in Thomson Reuters by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider's stock valued at $28,000 after acquiring an additional 80 shares during the last quarter. Asset Dedication LLC lifted its position in Thomson Reuters by 125.0% in the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider's stock worth $40,000 after purchasing an additional 130 shares during the period. Clean Yield Group bought a new position in Thomson Reuters in the third quarter valued at about $42,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Thomson Reuters during the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 17.31% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on TRI shares. Scotiabank lifted their price objective on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, November 6th. National Bank Financial raised Thomson Reuters from a "sector perform" rating to an "outperform" rating in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $163.00 to $164.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Royal Bank of Canada boosted their price objective on Thomson Reuters from $171.00 to $173.00 and gave the stock a "sector perform" rating in a report on Wednesday, November 6th. Finally, StockNews.com raised Thomson Reuters from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $176.33.

Thomson Reuters Price Performance

TRI traded down $0.03 during midday trading on Wednesday, reaching $160.74. 220,889 shares of the company's stock were exchanged, compared to its average volume of 352,178. Thomson Reuters Co. has a one year low of $137.47 and a one year high of $176.03. The business has a 50-day simple moving average of $168.07 and a two-hundred day simple moving average of $167.37. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $72.32 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 5.47 and a beta of 0.73.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. Thomson Reuters's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. As a group, research analysts predict that Thomson Reuters Co. will post 3.69 EPS for the current year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Thomson Reuters's previous quarterly dividend of $0.15. This represents a $2.16 annualized dividend and a yield of 1.34%. Thomson Reuters's dividend payout ratio (DPR) is 42.52%.

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.