Toronto Dominion Bank Acquires 9,200 Shares of Thomson Reuters Co. (NYSE:TRI)

Toronto Dominion Bank raised its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 514,250 shares of the business services provider’s stock after purchasing an additional 9,200 shares during the period. Toronto Dominion Bank owned approximately 0.11% of Thomson Reuters worth $87,731,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TRI. National Bank of Canada FI boosted its stake in shares of Thomson Reuters by 115.7% in the third 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. Cibc World Market Inc. raised its stake in Thomson Reuters by 26.3% in the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock valued at $223,525,000 after purchasing an additional 276,206 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in Thomson Reuters during the second quarter worth about $45,514,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in 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 worth $439,665,000 after buying an additional 255,387 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Thomson Reuters by 909.9% in 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 buying an additional 189,199 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Up 0.7 %

Shares of TRI opened at $170.21 on Wednesday. The company has a market capitalization of $76.58 billion, a PE ratio of 33.50, a PEG ratio of 5.77 and a beta of 0.71. The stock’s 50-day moving average price is $166.12 and its two-hundred day moving average price is $166.84. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Thomson Reuters Co. has a 12 month low of $138.83 and a 12 month high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS 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 period in the prior year, the business posted $0.82 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. On average, analysts anticipate that Thomson Reuters Co. will post 3.69 EPS for the current year.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.16 annualized dividend and a yield of 1.27%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio (DPR) is currently 42.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TRI shares. Wells Fargo & Company began coverage on shares of Thomson Reuters in a report on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price target for the company. Scotiabank boosted their price target on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Royal Bank of Canada boosted their target price on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Thomson Reuters presently has a consensus rating of “Hold” and an average price target 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.