Raymond James Financial Inc. Takes Position in Thomson Reuters Co. (NYSE:TRI)

Raymond James Financial Inc. acquired a new stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 70,366 shares of the business services provider’s stock, valued at approximately $11,285,000.

Other hedge funds also recently bought and sold shares of the company. National Bank of Canada FI raised its stake in shares of Thomson Reuters by 115.7% during the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock worth $164,292,000 after acquiring an additional 516,715 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Thomson Reuters by 52.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock valued at $185,011,000 after purchasing an additional 395,481 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Thomson Reuters by 909.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,993 shares of the business services provider’s stock worth $35,815,000 after purchasing an additional 189,199 shares during the period. Prana Capital Management LP bought a new stake in Thomson Reuters in the third quarter worth $19,143,000. Finally, Bridgewater Associates LP purchased a new stake in Thomson Reuters during the third quarter valued at about $11,690,000. Institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on TRI shares. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Wells Fargo & Company lifted their price target on Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. The Goldman Sachs Group increased their price objective on Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Canaccord Genuity Group lifted their target price on shares of Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Thomson Reuters has a consensus rating of “Hold” and a consensus target price of $177.56.

Thomson Reuters Stock Down 0.5 %

Shares of Thomson Reuters stock opened at $170.09 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $170.48 and its two-hundred day simple moving average is $167.84. The company has a market cap of $76.56 billion, a P/E ratio of 34.78, a PEG ratio of 5.67 and a beta of 0.70. Thomson Reuters Co. has a 12-month low of $149.50 and a 12-month high of $180.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Research analysts anticipate that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 20th were paid a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Thursday, February 20th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s dividend payout ratio (DPR) is presently 48.67%.

About Thomson Reuters

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.