iA Global Asset Management Inc. Invests $8.11 Million in Thomson Reuters Co. $TRI

iA Global Asset Management Inc. bought a new stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the third quarter, HoldingsChannel.com reports. The fund bought 52,193 shares of the business services provider’s stock, valued at approximately $8,107,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. TD Asset Management Inc boosted its holdings in Thomson Reuters by 3.0% during the second quarter. TD Asset Management Inc now owns 5,681,469 shares of the business services provider’s stock valued at $1,140,208,000 after purchasing an additional 166,977 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Thomson Reuters by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,617,231 shares of the business services provider’s stock worth $1,129,591,000 after buying an additional 140,631 shares in the last quarter. TLT Family Holdco ULC bought a new position in shares of Thomson Reuters during the 2nd quarter worth approximately $865,442,000. LCC Family Corp. acquired a new stake in Thomson Reuters in the 2nd quarter valued at $813,253,000. Finally, SEG Family Corp. acquired a new stake in Thomson Reuters in the 2nd quarter valued at $659,930,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Canaccord Genuity Group set a $174.00 price objective on Thomson Reuters and gave the stock a “buy” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. lowered their target price on shares of Thomson Reuters from $178.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Huber Research upgraded shares of Thomson Reuters to an “overweight” rating in a research report on Monday, October 20th. Royal Bank Of Canada reduced their price target on shares of Thomson Reuters from $208.00 to $182.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company decreased their price objective on shares of Thomson Reuters from $212.00 to $160.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $188.55.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $123.40 on Friday. The stock has a 50-day simple moving average of $130.63 and a 200 day simple moving average of $157.42. The stock has a market capitalization of $54.91 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 5.67 and a beta of 0.80. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a 12-month low of $118.64 and a 12-month high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Tuesday, November 4th. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The company’s revenue was up 3.4% on a year-over-year basis. On average, research analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were issued a $0.595 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.9%. Thomson Reuters’s dividend payout ratio (DPR) is currently 61.18%.

About Thomson Reuters

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.