Thomson Reuters Co. $TRI Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Thomson Reuters Co. by 55.7% in the first quarter, holding 403,243 shares valued at approximately $69.6 million.
• Thomson Reuters reported an EPS of $0.87 for the last quarter, exceeding estimates, with a revenue increase of 2.6% year-over-year to $1.81 billion.
• The company declared a quarterly dividend of $0.595 per share, scheduled for payment on September 10th, representing an annualized yield of 1.3%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 55.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 403,243 shares of the business services provider's stock after purchasing an additional 144,233 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.09% of Thomson Reuters worth $69,597,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Mackenzie Financial Corp raised its position in shares of 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 valued at $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% 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 purchasing an additional 750,063 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Thomson Reuters by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 5,476,600 shares of the business services provider's stock valued at $945,069,000 after purchasing an additional 94,758 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Thomson Reuters by 1.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,537,660 shares of the business services provider's stock valued at $437,985,000 after acquiring an additional 44,898 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Thomson Reuters by 1.0% in the 1st quarter. 1832 Asset Management L.P. now owns 1,665,117 shares of the business services provider's stock valued at $287,699,000 after acquiring an additional 17,223 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TRI has been the subject of a number of research analyst reports. Wall Street Zen downgraded Thomson Reuters from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Canaccord Genuity Group boosted their price target on Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a report on Thursday, August 7th. CIBC upgraded Thomson Reuters from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 19th. JPMorgan Chase & Co. boosted their price target on Thomson Reuters from $177.00 to $178.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Royal Bank Of Canada lowered their price target on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Thomson Reuters presently has an average rating of "Moderate Buy" and an average price target of $201.90.

Thomson Reuters Stock Performance

Shares of NYSE:TRI traded up $3.36 on Thursday, hitting $178.24. The company's stock had a trading volume of 633,015 shares, compared to its average volume of 888,040. Thomson Reuters Co. has a 12 month low of $151.60 and a 12 month high of $218.42. The company has a market capitalization of $80.32 billion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. The stock's 50-day moving average is $193.16 and its two-hundred day moving average is $185.45. 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 released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 1.3%. Thomson Reuters's dividend payout ratio is presently 65.75%.

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.