Alberta Investment Management Corp Acquires 97,929 Shares of Thomson Reuters Co. (NYSE:TRI)

Key Points

• Alberta Investment Management Corp increased its shareholding in Thomson Reuters Co. by 28.7% during the first quarter, now owning approximately 439,400 shares valued at about $75.8 million.
• Other institutional investors, such as Mackenzie Financial Corp and TD Asset Management Inc, also expanded their positions significantly, reflecting growing institutional interest in Thomson Reuters.
• Despite a slight revenue shortfall in its latest quarterly report, Thomson Reuters reported an EPS of $1.12, exceeding analyst expectations and showing a year-over-year improvement in profitability.

Alberta Investment Management Corp raised its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 28.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 439,400 shares of the business services provider's stock after buying an additional 97,929 shares during the quarter. Alberta Investment Management Corp owned 0.10% of Thomson Reuters worth $75,815,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Thomson Reuters in the 4th quarter worth about $448,000. JPMorgan Chase & Co. grew its holdings in shares of Thomson Reuters by 8.8% in the fourth quarter. JPMorgan Chase & Co. now owns 690,226 shares of the business services provider's stock worth $110,699,000 after purchasing an additional 56,044 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Thomson Reuters by 20.4% during the fourth quarter. Franklin Resources Inc. now owns 62,399 shares of the business services provider's stock valued at $10,007,000 after buying an additional 10,591 shares during the period. Geode Capital Management LLC grew its stake in Thomson Reuters by 74.3% in the fourth quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider's stock valued at $214,236,000 after purchasing an additional 560,450 shares during the last quarter. Finally, Trexquant Investment LP grew its position in Thomson Reuters by 4.6% during the fourth quarter. Trexquant Investment LP now owns 71,859 shares of the business services provider's stock valued at $11,525,000 after buying an additional 3,161 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRI has been the topic of a number of recent analyst reports. Scotiabank reaffirmed a "sector perform" rating and issued a $188.00 target price on shares of Thomson Reuters in a research report on Friday, May 2nd. TD Securities restated a "hold" rating on shares of Thomson Reuters in a report on Tuesday, July 15th. Royal Bank Of Canada increased their price objective on shares of Thomson Reuters from $185.00 to $215.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. Wall Street Zen downgraded shares of Thomson Reuters from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Finally, Barclays lifted their price target on Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Thomson Reuters has a consensus rating of "Hold" and an average target price of $193.00.

Thomson Reuters Price Performance

NYSE:TRI traded down $4.51 during trading hours on Tuesday, reaching $199.31. The company had a trading volume of 561,988 shares, compared to its average volume of 821,059. The stock has a 50-day moving average of $199.62 and a two-hundred day moving average of $184.60. Thomson Reuters Co. has a one year low of $151.60 and a one year high of $218.42. The firm has a market capitalization of $89.82 billion, a PE ratio of 40.76, a PEG ratio of 5.67 and a beta of 0.77. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Thomson Reuters 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.