K.J. Harrison & Partners Inc Reduces Stock Position in Thomson Reuters Co. (NYSE:TRI)

K.J. Harrison & Partners Inc cut its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 90.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,115 shares of the business services provider’s stock after selling 20,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Thomson Reuters were worth $310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRI. Mackenzie Financial Corp increased its stake in shares of Thomson Reuters by 17.3% in the 3rd quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock worth $755,514,000 after purchasing an additional 919,603 shares in the last quarter. FMR LLC grew its stake in shares of Thomson Reuters by 26.3% during the 3rd quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock valued at $692,059,000 after acquiring an additional 1,179,155 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Thomson Reuters by 6.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock worth $500,872,000 after acquiring an additional 240,148 shares in the last quarter. Bank of Nova Scotia bought a new stake in Thomson Reuters during the 3rd quarter worth approximately $170,036,000. Finally, Toronto Dominion Bank lifted its holdings in Thomson Reuters by 361.6% during the third quarter. Toronto Dominion Bank now owns 1,142,194 shares of the business services provider’s stock valued at $139,713,000 after purchasing an additional 894,776 shares in the last quarter. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Stock Up 1.2 %

NYSE TRI traded up $1.83 on Friday, reaching $154.40. 278,801 shares of the stock traded hands, compared to its average volume of 270,268. Thomson Reuters Co. has a 12 month low of $117.46 and a 12 month high of $161.57. The company has a market cap of $69.70 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 3.97 and a beta of 0.65. The company has a fifty day moving average price of $155.53 and a 200-day moving average price of $145.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, February 8th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the business earned $0.76 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, research analysts forecast that Thomson Reuters Co. will post 3.58 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 21st were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $2.16 dividend on an annualized basis and a yield of 1.40%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.49. Thomson Reuters’s dividend payout ratio is currently 36.99%.

Analysts Set New Price Targets

TRI has been the topic of a number of analyst reports. Scotiabank lifted their target price on shares of Thomson Reuters from $142.00 to $159.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. TD Securities increased their target price on Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. Barclays raised Thomson Reuters from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $150.00 to $180.00 in a report on Thursday, March 14th. CIBC lifted their price objective on shares of Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $153.00 target price on shares of Thomson Reuters in a research report on Wednesday, March 13th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $157.42.

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.