Wealthfront Advisers LLC Makes New $874,000 Investment in Thomson Reuters Co. (NYSE:TRI)

Wealthfront Advisers LLC purchased a new position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 5,449 shares of the business services provider’s stock, valued at approximately $874,000.

Several other institutional investors also recently added to or reduced their stakes in TRI. National Bank of Canada FI increased its position in Thomson Reuters by 115.7% during the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock worth $164,292,000 after buying an additional 516,715 shares during the period. CIBC Asset Management Inc increased its position in Thomson Reuters by 52.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock worth $185,011,000 after buying an additional 395,481 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Thomson Reuters by 11.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after buying an additional 255,387 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Thomson Reuters by 909.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,993 shares of the business services provider’s stock valued at $35,815,000 after purchasing an additional 189,199 shares during the last quarter. Finally, AGF Management Ltd. grew its stake in shares of Thomson Reuters by 60.7% in the 4th quarter. AGF Management Ltd. now owns 462,241 shares of the business services provider’s stock valued at $74,698,000 after purchasing an additional 174,546 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

TRI has been the topic of several analyst reports. Canaccord Genuity Group lifted their target price on Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their target price on Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Scotiabank lifted their target price on Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, CIBC lifted their target price on Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $177.56.

Thomson Reuters Stock Up 1.3 %

TRI opened at $172.17 on Friday. The business’s fifty day moving average is $169.55 and its two-hundred day moving average is $167.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The company 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. Thomson Reuters Co. has a one year low of $149.50 and a one year high of $180.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, topping 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%. Analysts anticipate that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 1.38%. 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. Thomson Reuters’s payout ratio is presently 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.