Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Thomson Reuters Co. (NYSE:TRI)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 11.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,577,905 shares of the business services provider’s stock after purchasing an additional 255,387 shares during the quarter. Thomson Reuters accounts for about 2.1% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 7th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Thomson Reuters were worth $439,665,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Hilton Capital Management LLC lifted its position in Thomson Reuters by 1.8% in the 3rd quarter. Hilton Capital Management LLC now owns 83,169 shares of the business services provider’s stock valued at $14,189,000 after acquiring an additional 1,460 shares in the last quarter. West Family Investments Inc. raised its stake in shares of Thomson Reuters by 3.1% in the 3rd quarter. West Family Investments Inc. now owns 4,216 shares of the business services provider’s stock valued at $719,000 after purchasing an additional 126 shares during the period. Banque Cantonale Vaudoise lifted its holdings in shares of Thomson Reuters by 5,169.8% in the third quarter. Banque Cantonale Vaudoise now owns 5,586 shares of the business services provider’s stock valued at $954,000 after purchasing an additional 5,480 shares in the last quarter. Prospera Financial Services Inc grew its holdings in shares of Thomson Reuters by 10.4% during the third quarter. Prospera Financial Services Inc now owns 2,964 shares of the business services provider’s stock worth $506,000 after buying an additional 280 shares in the last quarter. Finally, Caprock Group LLC raised its position in Thomson Reuters by 7.6% in the 3rd quarter. Caprock Group LLC now owns 3,506 shares of the business services provider’s stock valued at $598,000 after buying an additional 248 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Shares of NYSE TRI opened at $160.74 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $72.32 billion, a P/E ratio of 31.64, a P/E/G ratio of 5.47 and a beta of 0.73. Thomson Reuters Co. has a 12 month low of $136.93 and a 12 month high of $176.03. The stock has a 50 day moving average of $168.07 and a 200-day moving average of $167.37.

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

Thomson Reuters Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, November 21st. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 annualized dividend and a yield of 1.34%. Thomson Reuters’s dividend payout ratio (DPR) is 42.52%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target 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. 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. JPMorgan Chase & Co. raised their price objective on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Scotiabank raised their price target on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $176.33.

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.