Zurcher Kantonalbank Zurich Cantonalbank Buys 38,285 Shares of Thomson Reuters Co. (NYSE:TRI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 122.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,509 shares of the business services provider's stock after buying an additional 38,285 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Thomson Reuters were worth $10,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in Thomson Reuters during the 4th quarter worth about $11,438,000. Checchi Capital Advisers LLC increased its holdings in Thomson Reuters by 3.4% in the third quarter. Checchi Capital Advisers LLC now owns 6,052 shares of the business services provider's stock worth $741,000 after purchasing an additional 201 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in Thomson Reuters in the fourth quarter valued at approximately $2,954,000. Sapient Capital LLC acquired a new position in Thomson Reuters in the fourth quarter valued at approximately $13,461,000. Finally, Legacy Wealth Asset Management LLC boosted its holdings in shares of Thomson Reuters by 44.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 12,603 shares of the business services provider's stock worth $1,542,000 after buying an additional 3,901 shares in the last quarter. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Stock Performance

TRI stock traded down $0.57 during midday trading on Friday, hitting $150.22. The company's stock had a trading volume of 408,861 shares, compared to its average volume of 294,752. Thomson Reuters Co. has a 1 year low of $117.46 and a 1 year high of $161.57. The stock has a market cap of $67.81 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.93 and a beta of 0.65. The stock's 50-day moving average price is $155.87 and its 200 day moving average price is $144.48. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.82 billion. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. On average, equities analysts forecast that Thomson Reuters Co. will post 3.58 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Wednesday, February 21st were paid a $0.54 dividend. This is an increase from Thomson Reuters's previous quarterly dividend of $0.49. The ex-dividend date was Tuesday, February 20th. This represents a $2.16 annualized dividend and a yield of 1.44%. Thomson Reuters's dividend payout ratio is presently 36.99%.

Wall Street Analyst Weigh In

TRI has been the topic of several research analyst reports. Scotiabank increased their target price on shares of Thomson Reuters from $142.00 to $159.00 and gave the stock a "sector perform" rating in a research note on Friday, February 9th. TD Securities boosted their target price on Thomson Reuters from $210.00 to $225.00 and gave the company a "hold" rating in a research report on Wednesday, March 13th. National Bank Financial lowered Thomson Reuters from a "sector perform under weight" rating to an "underperform underweight" rating in a report on Tuesday, February 20th. Barclays raised Thomson Reuters from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $150.00 to $180.00 in a research note on Thursday, March 14th. Finally, CIBC upped their target price on Thomson Reuters from $146.00 to $152.00 and gave the stock a "neutral" rating in a research report on Thursday, March 14th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Thomson Reuters currently has a consensus rating of "Hold" and a consensus target price of $157.42.

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.