Thomson Reuters Co. (NYSE:TRI) is Connor Clark & Lunn Investment Management Ltd.’s 9th Largest Position

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,492,762 shares of the business services provider’s stock after selling 85,143 shares during the quarter. Thomson Reuters makes up 1.8% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 9th biggest position. Connor Clark & Lunn Investment Management Ltd. owned 0.55% of Thomson Reuters worth $399,763,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Decker Retirement Planning Inc. bought a new position in Thomson Reuters in the fourth quarter worth approximately $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Thomson Reuters during the 4th quarter worth $27,000. Noble Wealth Management PBC purchased a new stake in shares of Thomson Reuters during the 4th quarter worth $33,000. Ashton Thomas Securities LLC bought a new stake in Thomson Reuters during the third quarter valued at about $47,000. Finally, EverSource Wealth Advisors LLC grew its stake in Thomson Reuters by 60.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group raised their price target on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a report on Friday, February 7th. CIBC increased their target price on shares of Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on shares of Thomson Reuters from $175.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Canaccord Genuity Group raised their price objective on Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Thomson Reuters presently has an average rating of “Hold” and an average target price of $182.09.

Thomson Reuters Trading Down 1.2 %

Shares of NYSE:TRI opened at $171.69 on Wednesday. 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 52-week low of $149.50 and a 52-week high of $180.42. The stock has a market cap of $77.27 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 5.67 and a beta of 0.70. The business has a 50-day moving average price of $168.97 and a 200-day moving average price of $167.73.

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

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 20th were given a dividend of $0.595 per share. The ex-dividend date was Thursday, February 20th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. This represents a $2.38 dividend on an annualized basis and a yield of 1.39%. Thomson Reuters’s payout ratio is currently 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.