Renaissance Technologies LLC lifted its stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 16.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,800 shares of the business services provider's stock after purchasing an additional 3,500 shares during the period. Renaissance Technologies LLC's holdings in Thomson Reuters were worth $3,977,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in TRI. Decker Retirement Planning Inc. acquired a new position in Thomson Reuters in the fourth quarter valued at approximately $26,000. Curio Wealth LLC acquired a new position in Thomson Reuters in the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. acquired a new position in Thomson Reuters in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new position in Thomson Reuters in the fourth quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC raised its position in Thomson Reuters by 60.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider's stock valued at $58,000 after purchasing an additional 136 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have issued reports on TRI. Canaccord Genuity Group boosted their target price on Thomson Reuters from $164.00 to $175.00 and gave the company a "hold" rating in a research report on Friday, February 7th. CIBC boosted their target price on Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. Wells Fargo & Company upped their price objective on Thomson Reuters from $165.00 to $177.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Scotiabank upped their price objective on Thomson Reuters from $187.00 to $188.00 and gave the stock a "sector outperform" rating in a research report on Friday, February 7th. Finally, Bank of America initiated coverage on Thomson Reuters in a research report on Thursday, April 10th. They set a "neutral" rating and a $180.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters has a consensus rating of "Hold" and a consensus target price of $177.80.
Check Out Our Latest Analysis on Thomson Reuters
Thomson Reuters Stock Up 0.4 %
NYSE:TRI traded up $0.75 during trading hours on Monday, hitting $182.41. The company's stock had a trading volume of 656,018 shares, compared to its average volume of 413,419. The stock has a market capitalization of $82.16 billion, a P/E ratio of 37.30, a price-to-earnings-growth ratio of 5.67 and a beta of 0.70. The stock has a fifty day moving average of $174.45 and a 200-day moving average of $168.75. 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 Co. has a 52-week low of $149.85 and a 52-week high of $184.11.
Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its earnings results on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. On average, equities analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current year.
Thomson Reuters Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 20th were given a dividend of $0.595 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.30%. This is a boost from Thomson Reuters's previous quarterly dividend of $0.54. Thomson Reuters's payout ratio is 48.67%.
About Thomson Reuters
(
Free Report)
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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