Alberta Investment Management Corp Raises Stock Position in 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 grew its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 28.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 439,400 shares of the business services provider's stock after acquiring an additional 97,929 shares during the period. Alberta Investment Management Corp owned about 0.10% of Thomson Reuters worth $75,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in Thomson Reuters by 139.5% in the 4th quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock worth $1,370,564,000 after purchasing an additional 4,977,006 shares in the last quarter. TD Asset Management Inc raised its position in shares of Thomson Reuters by 15.7% during the first quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock valued at $951,477,000 after buying an additional 750,063 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 worth $214,236,000 after buying an additional 560,450 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Thomson Reuters by 16,802.9% during the first quarter. GAMMA Investing LLC now owns 116,799 shares of the business services provider's stock worth $20,181,000 after acquiring an additional 116,108 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in Thomson Reuters by 111.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 186,426 shares of the business services provider's stock valued at $29,899,000 after acquiring an additional 98,441 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Price Performance

Shares of Thomson Reuters stock opened at $200.91 on Friday. The stock has a 50 day moving average price of $199.32 and a 200-day moving average price of $183.60. Thomson Reuters Co. has a one year low of $150.01 and a one year high of $218.42. The stock has a market cap of $90.52 billion, a price-to-earnings ratio of 41.09, a price-to-earnings-growth ratio of 5.67 and a beta of 0.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its quarterly earnings data on Thursday, May 1st. The business services provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.05 by $0.07. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the firm earned $1.11 earnings per share. Thomson Reuters's quarterly revenue was up .8% compared to the same quarter last year. Equities analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. National Bankshares reiterated an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. Scotiabank reiterated a "sector perform" rating and issued a $188.00 target price on shares of Thomson Reuters in a research report on Friday, May 2nd. Barclays raised their price target on Thomson Reuters from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Wells Fargo & Company upped their price objective on Thomson Reuters from $187.00 to $213.00 and gave the stock an "equal weight" rating in a report on Monday, June 16th. Finally, JPMorgan Chase & Co. increased their target price on Thomson Reuters from $177.00 to $178.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $193.00.

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.

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