Thomson Reuters Co. (NYSE:TRI) Position Trimmed by Intact Investment Management Inc.

Intact Investment Management Inc. lessened its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 22.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,056 shares of the business services provider’s stock after selling 14,592 shares during the quarter. Intact Investment Management Inc.’s holdings in Thomson Reuters were worth $7,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Schwarz Dygos Wheeler Investment Advisors LLC purchased a new position in Thomson Reuters during the 4th quarter valued at about $202,000. Truist Financial Corp grew its stake in Thomson Reuters by 1.5% during the 4th quarter. Truist Financial Corp now owns 21,666 shares of the business services provider’s stock valued at $3,168,000 after acquiring an additional 330 shares in the last quarter. Yousif Capital Management LLC grew its stake in Thomson Reuters by 7.1% during the 4th quarter. Yousif Capital Management LLC now owns 8,029 shares of the business services provider’s stock valued at $1,174,000 after acquiring an additional 535 shares in the last quarter. Cumberland Partners Ltd grew its stake in Thomson Reuters by 0.4% during the 4th quarter. Cumberland Partners Ltd now owns 228,779 shares of the business services provider’s stock valued at $33,452,000 after acquiring an additional 948 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in Thomson Reuters during the 4th quarter valued at about $110,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on TRI shares. CIBC boosted their price target on Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Barclays raised Thomson Reuters from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $150.00 to $180.00 in a research note on Thursday, March 14th. Scotiabank boosted their price target on Thomson Reuters from $142.00 to $159.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. TD Securities boosted their price target on Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, March 13th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $153.00 target price on shares of Thomson Reuters in a research report on Wednesday, March 13th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $157.42.

Thomson Reuters Stock Performance

Shares of TRI traded up $1.83 during mid-day trading on Friday, hitting $154.40. The company’s stock had a trading volume of 278,801 shares, compared to its average volume of 270,268. Thomson Reuters Co. has a one year low of $117.46 and a one year high of $161.57. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $69.70 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 3.97 and a beta of 0.65. The stock’s 50-day moving average is $155.53 and its two-hundred day moving average is $145.34.

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

Thomson Reuters Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Wednesday, February 21st were given a $0.54 dividend. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.49. This represents a $2.16 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Tuesday, February 20th. Thomson Reuters’s dividend payout ratio (DPR) is 36.99%.

Thomson Reuters Company 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.