Thomson Reuters Co. $TRI Shares Bought 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 shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 55.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 403,243 shares of the business services provider's stock after acquiring an additional 144,233 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.09% of Thomson Reuters worth $69,597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Mackenzie Financial Corp increased its stake in shares of Thomson Reuters by 139.5% during 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 lifted its position in shares of Thomson Reuters by 15.7% in 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 acquiring an additional 750,063 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Thomson Reuters during the first quarter valued at $23,126,000. GAMMA Investing LLC increased its position in Thomson Reuters by 16,802.9% during the 1st quarter. GAMMA Investing LLC now owns 116,799 shares of the business services provider's stock worth $20,181,000 after purchasing an additional 116,108 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in Thomson Reuters by 111.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 186,426 shares of the business services provider's stock valued at $29,899,000 after purchasing an additional 98,441 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company's stock.

Thomson Reuters Stock Down 0.1%

NYSE TRI traded down $0.22 on Wednesday, reaching $174.88. The company had a trading volume of 833,989 shares, compared to its average volume of 889,735. The firm has a market capitalization of $78.81 billion, a PE ratio of 35.76, a P/E/G ratio of 5.67 and a beta of 0.77. The firm has a 50-day moving average of $193.58 and a 200-day moving average of $185.52. Thomson Reuters Co. has a 1 year low of $151.60 and a 1 year high of $218.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94.

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

Thomson Reuters Dividend Announcement

The firm 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 is Tuesday, August 19th. This represents a $2.38 annualized dividend and a dividend yield of 1.4%. Thomson Reuters's payout ratio is 65.75%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRI. JPMorgan Chase & Co. upped their price objective on shares of Thomson Reuters from $177.00 to $178.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. National Bankshares reissued an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. TD Securities dropped their target price on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company decreased their price target on Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group increased their target price on Thomson Reuters from $181.00 to $182.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.