Ontario Teachers Pension Plan Board Increases Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Ontario Teachers Pension Plan Board raised its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 64.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,808 shares of the business services provider’s stock after purchasing an additional 6,173 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Thomson Reuters were worth $2,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new stake in shares of Thomson Reuters in the fourth quarter valued at approximately $37,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of Thomson Reuters in the fourth quarter valued at approximately $38,000. Gold Investment Management Ltd. purchased a new stake in shares of Thomson Reuters in the fourth quarter valued at approximately $41,000. Principal Securities Inc. purchased a new stake in shares of Thomson Reuters in the fourth quarter valued at approximately $48,000. Finally, Fifth Third Bancorp boosted its stake in shares of Thomson Reuters by 25.7% in the fourth quarter. Fifth Third Bancorp now owns 382 shares of the business services provider’s stock valued at $56,000 after buying an additional 78 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Trading Up 1.8 %

TRI stock traded up $3.00 during trading on Monday, reaching $165.66. 361,395 shares of the stock traded hands, compared to its average volume of 366,568. The business’s 50 day moving average price is $168.80 and its 200-day moving average price is $159.41. Thomson Reuters Co. has a 52-week low of $117.46 and a 52-week high of $176.03. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $74.49 billion, a PE ratio of 30.98, a P/E/G ratio of 6.21 and a beta of 0.72.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. Thomson Reuters had a return on equity of 15.47% and a net margin of 34.87%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Thomson Reuters Co. will post 3.67 earnings per share for the current year.

Thomson Reuters Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Wednesday, May 15th. Thomson Reuters’s payout ratio is 40.57%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TRI. UBS Group lifted their price objective on Thomson Reuters from $177.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on Thomson Reuters from $152.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Canaccord Genuity Group lifted their price objective on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Canaccord Genuity Group lifted their price objective on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, National Bank Financial raised Thomson Reuters from an “underperform” rating to a “sector perform” rating in a report on Tuesday, April 23rd. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Thomson Reuters has an average rating of “Hold” and an average target price of $170.64.

Thomson Reuters Company 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.