Northern Trust Corp Raises Stock Position in Thomson Reuters Co. (NYSE:TRI)

Northern Trust Corp raised its stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 50.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 202,554 shares of the business services provider's stock after buying an additional 68,314 shares during the period. Northern Trust Corp's holdings in Thomson Reuters were worth $32,486,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TRI. Norges Bank bought a new stake in shares of Thomson Reuters during the 4th quarter valued at $148,221,000. Geode Capital Management LLC grew its position in shares of Thomson Reuters by 74.3% during the 4th quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider's stock valued at $214,236,000 after acquiring an additional 560,450 shares during the period. TD Asset Management Inc. grew its position in shares of Thomson Reuters by 12.2% during the 4th quarter. TD Asset Management Inc. now owns 4,764,429 shares of the business services provider's stock valued at $764,654,000 after acquiring an additional 516,605 shares during the period. CIBC Asset Management Inc grew its position in shares of Thomson Reuters by 52.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider's stock valued at $185,011,000 after acquiring an additional 395,481 shares during the period. Finally, AGF Management Ltd. grew its position in shares of Thomson Reuters by 60.7% during the 4th quarter. AGF Management Ltd. now owns 462,241 shares of the business services provider's stock valued at $74,698,000 after acquiring an additional 174,546 shares during the period. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Stock Performance

Shares of NYSE TRI traded up $0.69 during midday trading on Friday, reaching $190.34. The company had a trading volume of 184,588 shares, compared to its average volume of 423,227. The business's 50-day simple moving average is $176.87 and its 200 day simple moving average is $170.41. The stock has a market cap of $85.73 billion, a P/E ratio of 38.92, a P/E/G ratio of 5.67 and a beta of 0.75. Thomson Reuters Co. has a 1 year low of $150.01 and a 1 year high of $190.80. 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 posted its quarterly earnings results on Thursday, May 1st. The business services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.07. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the company posted $1.11 earnings per share. The business's quarterly revenue was up .8% on a year-over-year basis. On average, analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be issued a dividend of $0.595 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.38 annualized dividend and a dividend yield of 1.25%. Thomson Reuters's dividend payout ratio (DPR) is presently 49.69%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TRI shares. StockNews.com downgraded shares of Thomson Reuters from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Canaccord Genuity Group upped their target price on shares of Thomson Reuters from $164.00 to $175.00 and gave the stock a "hold" rating in a report on Friday, February 7th. JPMorgan Chase & Co. upped their target price on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. TD Securities increased their price objective on shares of Thomson Reuters from $177.00 to $182.00 and gave the company a "sector perform" rating in a report on Tuesday, April 29th. Finally, Scotiabank restated a "sector perform" rating and set a $188.00 target price on shares of Thomson Reuters in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $183.70.

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.