First American Bank Acquires 283 Shares of Thomson Reuters Co. (NYSE:TRI)

First American Bank grew its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,677 shares of the business services provider’s stock after acquiring an additional 283 shares during the quarter. First American Bank’s holdings in Thomson Reuters were worth $3,797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TRI. National Bank of Canada FI lifted its position in Thomson Reuters by 115.7% during 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 purchasing an additional 516,715 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Thomson Reuters by 52.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock worth $185,011,000 after acquiring an additional 395,481 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Thomson Reuters by 11.0% in 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 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 last quarter. Finally, Prana Capital Management LP purchased a new stake in Thomson Reuters during the third quarter valued at about $19,143,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

TRI has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Scotiabank boosted their price objective on shares of Thomson Reuters from $187.00 to $188.00 and gave the stock a “sector outperform” rating in a report on Friday, February 7th. CIBC increased their target price on shares of Thomson Reuters from $165.00 to $174.00 in a report on Friday, February 7th. Canaccord Genuity Group raised their target price on shares of Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada lifted their target price on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters currently has an average rating of “Hold” and an average target price of $182.09.

Thomson Reuters Stock Performance

Shares of TRI opened at $176.44 on Friday. Thomson Reuters Co. has a one year low of $149.50 and a one year high of $180.01. The firm has a market capitalization of $79.40 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 5.67 and a beta of 0.73. The company has a 50-day simple moving average of $166.78 and a two-hundred day simple moving average of $167.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94.

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 return on equity of 14.62% and a net margin of 30.45%. On average, analysts anticipate that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm 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. This represents a $2.38 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, February 20th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s dividend payout ratio is 48.67%.

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.