BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 189,199 Shares of Thomson Reuters Co. (NYSE:TRI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 909.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 institutional investors also recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in shares of Thomson Reuters in the second quarter valued at about $25,000. EverSource Wealth Advisors LLC increased its position in shares of Thomson Reuters by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 80 shares during the last quarter. Asset Dedication LLC increased its position in shares of Thomson Reuters by 125.0% in the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 130 shares during the last quarter. Clean Yield Group acquired a new stake in shares of Thomson Reuters in the third quarter valued at about $42,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Thomson Reuters in the third quarter valued at approximately $47,000. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Price Performance

TRI stock opened at $162.59 on Friday. Thomson Reuters Co. has a 1 year low of $138.80 and a 1 year high of $176.03. The stock has a market capitalization of $73.15 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 5.47 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50-day moving average is $166.55 and its 200-day moving average is $167.04.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm earned $0.82 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts expect that Thomson Reuters Co. will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

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

Analysts Set New Price Targets

TRI has been the subject of several recent analyst reports. Scotiabank upped their target price on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. StockNews.com downgraded Thomson Reuters from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. Wells Fargo & Company started coverage on Thomson Reuters in a report on Tuesday. They issued an “equal weight” rating and a $165.00 price objective for the company. Royal Bank of Canada increased their price objective on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday, November 6th. Finally, National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Thomson Reuters presently has a consensus rating of “Hold” and an average target price of $175.20.

Thomson Reuters Company 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.