Cibc World Market Inc. Has $249.15 Million Stock Position in Thomson Reuters Co. (NYSE:TRI)

Cibc World Market Inc. cut its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 3.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,552,166 shares of the business services provider’s stock after selling 47,681 shares during the period. Cibc World Market Inc.’s holdings in Thomson Reuters were worth $249,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in TRI. National Bank of Canada FI increased its holdings 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 valued at $164,292,000 after buying an additional 516,715 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Thomson Reuters by 11.0% during the 3rd 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 acquiring an additional 255,387 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Thomson Reuters by 909.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,993 shares of the business services provider’s stock valued at $35,815,000 after acquiring an additional 189,199 shares during the period. International Assets Investment Management LLC acquired a new position in Thomson Reuters in the third quarter worth about $29,250,000. Finally, Prana Capital Management LP bought a new position in Thomson Reuters during the third quarter worth about $19,143,000. Institutional investors own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Scotiabank upped their target price on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. CIBC lifted their price target on shares of Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company initiated coverage on shares of Thomson Reuters in a research note on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Thomson Reuters has a consensus rating of “Hold” and an average price target of $176.10.

Thomson Reuters Stock Performance

TRI stock opened at $168.97 on Friday. Thomson Reuters Co. has a 1-year low of $148.16 and a 1-year high of $176.03. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm has a market cap of $76.04 billion, a PE ratio of 33.26, a P/E/G ratio of 5.27 and a beta of 0.72. The business’s 50-day moving average price is $162.95 and its two-hundred day moving average price is $165.16.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data 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 return on equity of 14.85% and a net margin of 32.12%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $0.82 EPS. Thomson Reuters’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts forecast that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were given a dividend of $0.54 per share. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.16 annualized dividend and a dividend yield of 1.28%. Thomson Reuters’s dividend payout ratio is currently 42.52%.

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.