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

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 183.6% during the second quarter, Holdings Channel reports. The firm owned 20,794 shares of the business services provider’s stock after purchasing an additional 13,463 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Thomson Reuters were worth $3,506,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Thomson Reuters by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider’s stock worth $894,442,000 after buying an additional 41,680 shares during the period. FIL Ltd grew its stake in shares of Thomson Reuters by 9.8% in the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after acquiring an additional 445,444 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Thomson Reuters by 0.7% in the second quarter. TD Asset Management Inc now owns 4,074,256 shares of the business services provider’s stock worth $686,640,000 after acquiring an additional 26,483 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Thomson Reuters by 0.8% during the fourth quarter. 1832 Asset Management L.P. now owns 1,783,086 shares of the business services provider’s stock worth $260,723,000 after acquiring an additional 13,747 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of Thomson Reuters by 3.9% in the first quarter. Clearbridge Investments LLC now owns 1,333,533 shares of the business services provider’s stock valued at $207,804,000 after acquiring an additional 50,367 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Down 0.9 %

TRI opened at $169.77 on Friday. The stock has a market capitalization of $76.35 billion, a P/E ratio of 32.34, a price-to-earnings-growth ratio of 5.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. Thomson Reuters Co. has a one year low of $117.46 and a one year high of $176.03. The business’s 50-day simple moving average is $166.09 and its 200-day simple moving average is $163.96.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. Thomson Reuters’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts anticipate that Thomson Reuters Co. will post 3.71 EPS for the current year.

Thomson Reuters Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.146 per share. This represents a $0.58 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s payout ratio is 41.14%.

Wall Street Analyst Weigh In

TRI has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Finally, Royal Bank of Canada dropped their price objective on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $173.45.

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.