Connor Clark & Lunn Investment Management Ltd. Purchases 44,898 Shares of Thomson Reuters Co. (NYSE:TRI)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Thomson Reuters by 1.8%, acquiring an additional 44,898 shares, bringing its total holdings to approximately $437,985,000.
• Thomson Reuters recently announced a quarterly dividend of $0.595 per share, yielding approximately 1.3%, with a upcoming payment date of September 10th.
• The company's latest earnings report showed $1.81 billion in revenue, exceeding analyst estimates, and a net margin of 30.45%, indicating solid financial performance.

Connor Clark & Lunn Investment Management Ltd. lifted its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,537,660 shares of the business services provider's stock after acquiring an additional 44,898 shares during the period. Thomson Reuters accounts for approximately 1.9% of Connor Clark & Lunn Investment Management Ltd.'s investment portfolio, making the stock its 9th biggest holding. Connor Clark & Lunn Investment Management Ltd. owned about 0.56% of Thomson Reuters worth $437,985,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Thomson Reuters in the 1st quarter valued at $626,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Thomson Reuters by 7.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,277 shares of the business services provider's stock valued at $1,948,000 after acquiring an additional 776 shares during the period. Callan Capital LLC acquired a new position in shares of Thomson Reuters in the 1st quarter valued at $244,000. Ameriprise Financial Inc. increased its position in shares of Thomson Reuters by 0.9% in the 4th quarter. Ameriprise Financial Inc. now owns 33,663 shares of the business services provider's stock valued at $5,683,000 after acquiring an additional 313 shares during the period. Finally, TD Asset Management Inc increased its position in shares of Thomson Reuters by 15.7% in the 1st quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock valued at $951,477,000 after acquiring an additional 750,063 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Trading Down 0.9%

Shares of Thomson Reuters stock opened at $179.96 on Friday. The firm has a market capitalization of $81.10 billion, a PE ratio of 36.80, a P/E/G ratio of 5.67 and a beta of 0.77. Thomson Reuters Co. has a twelve month low of $151.60 and a twelve month high of $218.42. The firm's 50-day moving average price is $198.75 and its 200 day moving average price is $184.95. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Thomson Reuters's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.85 EPS. On average, sell-side analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a $0.595 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $2.38 dividend on an annualized basis and a yield of 1.3%. Thomson Reuters's dividend payout ratio (DPR) is currently 49.69%.

Wall Street Analysts Forecast Growth

TRI has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Royal Bank Of Canada cut their price target on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research report on Thursday. Wall Street Zen downgraded Thomson Reuters from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Barclays increased their price target on Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Thomson Reuters in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $194.20.

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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