CIBC Asset Management Inc Buys 395,481 Shares of Thomson Reuters Co. (NYSE:TRI)

CIBC Asset Management Inc increased its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 52.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,153,240 shares of the business services provider’s stock after purchasing an additional 395,481 shares during the period. CIBC Asset Management Inc owned approximately 0.26% of Thomson Reuters worth $185,011,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. National Bank of Canada FI increased its stake in Thomson Reuters by 115.7% in the 3rd 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. Connor Clark & Lunn Investment Management Ltd. lifted 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 last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Thomson Reuters by 909.9% during 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. International Assets Investment Management LLC purchased a new stake in Thomson Reuters in the third quarter valued at about $29,250,000. Finally, Prana Capital Management LP acquired a new stake in Thomson Reuters in the 3rd quarter worth approximately $19,143,000. 17.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRI has been the subject of a number of research analyst reports. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group lifted their price objective on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Wells Fargo & Company raised their target price on shares of Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Royal Bank of Canada upped their price target on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $182.09.

Thomson Reuters Stock Down 2.8 %

Shares of NYSE TRI opened at $173.93 on Monday. The firm has a market cap of $78.27 billion, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 5.59 and a beta of 0.73. The company’s 50-day simple moving average is $165.24 and its 200-day simple moving average is $166.05. 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 Co. has a 52-week low of $149.50 and a 52-week high of $179.45.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.78% and a net margin of 30.45%. Equities analysts predict that Thomson Reuters Co. will post 3.96 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Thursday, February 20th will be issued a $0.595 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a yield of 1.37%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s dividend payout ratio (DPR) is presently 44.17%.

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.