PCJ Investment Counsel Ltd. Has $1.29 Million Position in Thomson Reuters Co. (NYSE:TRI)

PCJ Investment Counsel Ltd. lowered its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,576 shares of the business services provider’s stock after selling 360 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in Thomson Reuters were worth $1,292,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TRI. Avantax Advisory Services Inc. grew its holdings in shares of Thomson Reuters by 10.4% during the first quarter. Avantax Advisory Services Inc. now owns 1,841 shares of the business services provider’s stock worth $287,000 after buying an additional 173 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Thomson Reuters by 10.8% during the first quarter. Blair William & Co. IL now owns 2,220 shares of the business services provider’s stock worth $346,000 after buying an additional 216 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Thomson Reuters by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider’s stock worth $894,442,000 after buying an additional 41,680 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Thomson Reuters by 51.2% during the first quarter. Acadian Asset Management LLC now owns 32,500 shares of the business services provider’s stock worth $5,060,000 after buying an additional 11,000 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings in shares of Thomson Reuters by 90.3% during the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the business services provider’s stock worth $343,000 after buying an additional 1,044 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TRI shares. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Royal Bank of Canada raised their price target on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. Scotiabank raised their price target on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their price target on Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $176.33.

Thomson Reuters Stock Performance

NYSE:TRI opened at $160.74 on Wednesday. The stock has a market cap of $72.32 billion, a P/E ratio of 31.64, a PEG ratio of 5.47 and a beta of 0.73. The stock has a 50 day simple moving average of $168.07 and a 200 day simple moving average of $167.37. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Thomson Reuters Co. has a 1-year low of $136.93 and a 1-year high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Thomson Reuters had a return on equity of 14.85% and a net margin of 32.12%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.82 EPS. Research analysts anticipate that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a dividend of $0.54 per share. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. This represents a $2.16 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, November 21st. Thomson Reuters’s dividend payout ratio (DPR) is presently 42.52%.

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.