Cibc World Market Inc. Has $166.30 Million Holdings in Thomson Reuters Co. $TRI

Cibc World Market Inc. decreased its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 7.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,071,204 shares of the business services provider’s stock after selling 88,630 shares during the period. Cibc World Market Inc. owned about 0.24% of Thomson Reuters worth $166,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Curio Wealth LLC raised its stake in Thomson Reuters by 16,200.0% during the 2nd quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 162 shares during the period. Westside Investment Management Inc. purchased a new position in shares of Thomson Reuters during the second quarter valued at $34,000. Ameritas Advisory Services LLC acquired a new position in Thomson Reuters during the second quarter valued at $37,000. AlphaCore Capital LLC purchased a new stake in Thomson Reuters in the 2nd quarter worth about $39,000. Finally, Cullen Frost Bankers Inc. lifted its stake in Thomson Reuters by 50.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock worth $39,000 after acquiring an additional 83 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Trading Up 1.7%

NYSE:TRI opened at $90.86 on Wednesday. The company has a market capitalization of $40.43 billion, a P/E ratio of 18.58, a P/E/G ratio of 5.67 and a beta of 0.79. The stock’s 50 day moving average price is $123.11 and its 200 day moving average price is $148.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. Thomson Reuters Co. has a 52 week low of $85.02 and a 52 week high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Thursday, February 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share. On average, research analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be issued a $0.655 dividend. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.60. This represents a $2.62 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, February 17th. Thomson Reuters’s dividend payout ratio is currently 78.68%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRI. BMO Capital Markets set a $165.00 target price on Thomson Reuters in a research note on Friday. Wells Fargo & Company set a $140.00 price target on shares of Thomson Reuters and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Huber Research raised shares of Thomson Reuters to an “overweight” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. cut their target price on shares of Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Finally, TD Securities reissued a “buy” rating on shares of Thomson Reuters in a research note on Friday. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.42.

Thomson Reuters Profile

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.