Advisors Asset Management Inc. Grows Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Advisors Asset Management Inc. increased its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 73.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,265 shares of the business services provider’s stock after acquiring an additional 1,807 shares during the period. Advisors Asset Management Inc.’s holdings in Thomson Reuters were worth $728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc boosted its stake in shares of 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 valued at $686,640,000 after purchasing an additional 26,483 shares during the period. Fiera Capital Corp boosted 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 valued at $458,559,000 after buying an additional 27,714 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Thomson Reuters by 11.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after acquiring an additional 255,387 shares in the last quarter. Clearbridge Investments LLC increased its position 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 worth $245,893,000 after acquiring an additional 125,167 shares during the period. Finally, Cibc World Market Inc. raised its stake in shares of Thomson Reuters by 26.3% in the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock valued at $223,525,000 after acquiring an additional 276,206 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TRI shares. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Royal Bank of Canada upped their target price on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Friday, November 22nd. 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 report on Wednesday, November 6th. Finally, Wells Fargo & Company began coverage on shares of Thomson Reuters in a research report on Tuesday. They set an “equal weight” rating and a $165.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $175.20.

Thomson Reuters Stock Performance

NYSE TRI opened at $160.79 on Wednesday. The company has a fifty day moving average of $166.99 and a two-hundred day moving average of $167.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. Thomson Reuters Co. has a 1 year low of $138.30 and a 1 year high of $176.03. The company has a market capitalization of $72.34 billion, a PE ratio of 31.65, a P/E/G ratio of 5.45 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share. As a group, analysts expect that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend 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.