Cumberland Partners Ltd Acquires 948 Shares of Thomson Reuters Co. (NYSE:TRI)

Cumberland Partners Ltd boosted its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,779 shares of the business services provider’s stock after acquiring an additional 948 shares during the quarter. Thomson Reuters accounts for approximately 2.9% of Cumberland Partners Ltd’s holdings, making the stock its 11th largest position. Cumberland Partners Ltd owned approximately 0.05% of Thomson Reuters worth $33,452,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vontobel Holding Ltd. purchased a new stake in Thomson Reuters in the 3rd quarter worth $1,203,000. Ritholtz Wealth Management raised its stake in Thomson Reuters by 4.9% in the third quarter. Ritholtz Wealth Management now owns 4,453 shares of the business services provider’s stock worth $545,000 after buying an additional 209 shares in the last quarter. Capital Investment Advisors LLC acquired a new position in shares of Thomson Reuters during the third quarter worth $209,000. Capital Asset Advisory Services LLC acquired a new position in shares of Thomson Reuters during the third quarter worth $219,000. Finally, Covenant Partners LLC acquired a new position in shares of Thomson Reuters during the third quarter worth $419,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Stock Up 0.4 %

TRI stock traded up $0.60 during midday trading on Tuesday, hitting $153.59. The company’s stock had a trading volume of 323,424 shares, compared to its average volume of 306,799. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. Thomson Reuters Co. has a 52-week low of $117.46 and a 52-week high of $161.57. The firm has a market capitalization of $69.33 billion, a P/E ratio of 26.30, a PEG ratio of 3.91 and a beta of 0.65. The firm has a 50-day simple moving average of $155.86 and a 200-day simple moving average of $145.04.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the business earned $0.76 EPS. The company’s revenue was up 2.8% on a year-over-year basis. As a group, equities analysts forecast that Thomson Reuters Co. will post 3.58 EPS for the current year.

Thomson Reuters Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Wednesday, February 21st were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.49. The ex-dividend date was Tuesday, February 20th. Thomson Reuters’s dividend payout ratio (DPR) is presently 36.99%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TRI shares. Royal Bank of Canada reissued a “sector perform” rating and set a $153.00 price objective on shares of Thomson Reuters in a report on Wednesday, March 13th. CIBC increased their price objective on shares of Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. TD Securities increased their price objective on shares of Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. National Bank Financial raised shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research note on Tuesday. Finally, Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $150.00 to $180.00 in a research report on Thursday, March 14th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $157.42.

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.