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

Ontario Teachers Pension Plan Board trimmed its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 31.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,589 shares of the business services provider’s stock after selling 4,334 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Thomson Reuters were worth $1,635,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Thomson Reuters by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider’s stock valued at $894,442,000 after purchasing an additional 41,680 shares in the last quarter. TD Asset Management Inc lifted its position in Thomson Reuters by 0.7% in the second quarter. TD Asset Management Inc now owns 4,074,256 shares of the business services provider’s stock worth $686,640,000 after buying an additional 26,483 shares during the last quarter. Fiera Capital Corp raised its position in Thomson Reuters by 1.0% in the 3rd quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock worth $458,559,000 after purchasing an additional 27,714 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Thomson Reuters by 11.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock valued at $439,665,000 after buying an additional 255,387 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of Thomson Reuters by 9.4% during the second quarter. Clearbridge Investments LLC now owns 1,458,700 shares of the business services provider’s stock valued at $245,893,000 after acquiring an additional 125,167 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRI has been the topic of a number of recent research reports. Scotiabank increased their price objective on shares of Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Royal Bank of Canada raised their price target on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday, November 6th. Finally, National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Thomson Reuters currently has an average rating of “Hold” and an average target price of $176.33.

Thomson Reuters Price Performance

NYSE:TRI opened at $160.74 on Thursday. The stock has a 50 day moving average price of $167.84 and a 200 day moving average price of $167.33. The stock has a market cap of $72.32 billion, a PE ratio of 31.64, a P/E/G ratio of 5.44 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. Thomson Reuters Co. has a one year low of $137.47 and a one year high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. Thomson Reuters’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Equities research analysts expect that Thomson Reuters Co. will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.34%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, November 21st. Thomson Reuters’s dividend payout ratio is presently 42.52%.

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.