Cibc World Market Inc. Raises Holdings in Thomson Reuters Co. (NYSE:TRI)

Cibc World Market Inc. increased its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 26.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,325,695 shares of the business services provider’s stock after buying an additional 276,206 shares during the period. Cibc World Market Inc. owned 0.29% of Thomson Reuters worth $223,525,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TRI. Vanguard Group Inc. increased its holdings in shares of Thomson Reuters by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider’s stock worth $894,442,000 after buying an additional 41,680 shares during the last quarter. FIL Ltd increased its stake in Thomson Reuters by 9.8% during the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after acquiring an additional 445,444 shares during the last quarter. TD Asset Management Inc raised its position in Thomson Reuters by 0.7% during the second quarter. TD Asset Management Inc now owns 4,074,256 shares of the business services provider’s stock valued at $686,640,000 after purchasing an additional 26,483 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of Thomson Reuters by 0.8% in the 4th quarter. 1832 Asset Management L.P. now owns 1,783,086 shares of the business services provider’s stock valued at $260,723,000 after purchasing an additional 13,747 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Thomson Reuters by 3.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,333,533 shares of the business services provider’s stock worth $207,804,000 after purchasing an additional 50,367 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $172.17 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $77.41 billion, a PE ratio of 32.79, a P/E/G ratio of 5.92 and a beta of 0.73. The company has a 50 day moving average price of $164.96 and a 200-day moving average price of $162.97. Thomson Reuters Co. has a fifty-two week low of $117.46 and a fifty-two week high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. As a group, equities analysts forecast that Thomson Reuters Co. will post 3.72 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $0.146 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.58 annualized dividend and a dividend yield of 0.34%. Thomson Reuters’s dividend payout ratio is currently 41.14%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada reduced their price objective on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $173.45.

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.