70,366 Shares in Thomson Reuters Co. (NYSE:TRI) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 70,366 shares of the business services provider’s stock, valued at approximately $11,285,000.

A number of other large investors also recently bought and sold shares of TRI. Decker Retirement Planning Inc. bought a new position in shares of Thomson Reuters during the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Thomson Reuters in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in Thomson Reuters during the 4th quarter valued at approximately $33,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Thomson Reuters by 51.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 880 shares of the business services provider’s stock valued at $141,000 after acquiring an additional 298 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Thomson Reuters by 25.9% in the 4th quarter. Blue Trust Inc. now owns 832 shares of the business services provider’s stock worth $142,000 after purchasing an additional 171 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 7th. The Goldman Sachs Group boosted their price target on Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Thursday, March 6th. Scotiabank boosted their target price on Thomson Reuters from $187.00 to $188.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 7th. Finally, Canaccord Genuity Group raised their price target on shares of Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $177.56.

Thomson Reuters Stock Down 0.5 %

TRI stock opened at $170.09 on Friday. The business’s 50-day moving average is $170.48 and its two-hundred day moving average is $167.84. The company has a market cap of $76.56 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 5.67 and a beta of 0.70. Thomson Reuters Co. has a fifty-two week low of $149.50 and a fifty-two week high of $180.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. As a group, analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 20th were given a dividend of $0.595 per share. 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. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.40%. 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.