BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 909.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 209,993 shares of the business services provider’s stock after purchasing an additional 189,199 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Thomson Reuters were worth $35,815,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its position in shares of Thomson Reuters by 0.8% during the third quarter. FMR LLC now owns 7,209,202 shares of the business services provider’s stock valued at $1,229,716,000 after buying an additional 57,854 shares during the period. TD Asset Management Inc increased its position in shares of Thomson Reuters by 0.7% during the second quarter. TD Asset Management Inc now owns 4,074,256 shares of the business services provider’s stock valued at $686,640,000 after buying an additional 26,483 shares during the period. Fiera Capital Corp increased its position in shares of Thomson Reuters by 1.0% during the third quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock valued at $458,559,000 after buying an additional 27,714 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of 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 valued at $439,665,000 after buying an additional 255,387 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of Thomson Reuters by 9.4% during the second quarter. Clearbridge Investments LLC now owns 1,458,700 shares of the business services provider’s stock valued at $245,893,000 after buying an additional 125,167 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Up 0.6 %

Shares of Thomson Reuters stock opened at $162.59 on Friday. The company has a market cap of $73.15 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 5.47 and a beta of 0.73. The company’s 50 day moving average is $166.55 and its 200 day moving average is $167.04. Thomson Reuters Co. has a twelve month low of $138.80 and a twelve month high of $176.03. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The business 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%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. Research analysts anticipate that Thomson Reuters Co. will post 3.69 EPS for the current year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.33%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 21st. Thomson Reuters’s payout ratio is 42.52%.

Wall Street Analysts Forecast Growth

TRI has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on shares of Thomson Reuters in a research report on Tuesday. They set an “equal weight” rating and a $165.00 price target on the stock. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Friday, November 22nd. Royal Bank of Canada boosted their price objective on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have issued 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 $175.20.

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.