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

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 122.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 69,509 shares of the business services provider’s stock after purchasing an additional 38,285 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Thomson Reuters were worth $10,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TRI. Belpointe Asset Management LLC grew its position in shares of Thomson Reuters by 134.9% in the first quarter. Belpointe Asset Management LLC now owns 195 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 112 shares during the last quarter. Trust Co. of Vermont acquired a new position in Thomson Reuters during the 3rd quarter valued at $27,000. FinTrust Capital Advisors LLC bought a new stake in Thomson Reuters in the 3rd quarter valued at $28,000. Pacifica Partners Inc. boosted its holdings in Thomson Reuters by 162.0% in the 4th quarter. Pacifica Partners Inc. now owns 241 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 149 shares during the period. Finally, Operose Advisors LLC acquired a new stake in Thomson Reuters in the 3rd quarter worth $37,000. 17.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TRI shares. CIBC increased their target price on shares of Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Barclays upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $150.00 to $180.00 in a research note on Thursday, March 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $153.00 price target on shares of Thomson Reuters in a report on Wednesday, March 13th. Scotiabank lifted their target price on shares of Thomson Reuters from $142.00 to $159.00 and gave the company a “sector perform” rating in a research report on Friday, February 9th. Finally, National Bank Financial cut shares of Thomson Reuters from a “sector perform under weight” rating to an “underperform underweight” rating in a research note on Tuesday, February 20th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $157.42.

Thomson Reuters Price Performance

TRI opened at $150.30 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.90. The company’s 50 day simple moving average is $155.87 and its 200-day simple moving average is $144.32. Thomson Reuters Co. has a one year low of $117.46 and a one year high of $161.57. The stock has a market capitalization of $67.85 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 3.93 and a beta of 0.65.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Thursday, February 8th. The business services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. Thomson Reuters had a return on equity of 14.01% and a net margin of 39.67%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts anticipate that Thomson Reuters Co. will post 3.58 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

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

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.