AGF Management Ltd. Increases Stock Position in Thomson Reuters Co. (NYSE:TRI)

AGF Management Ltd. grew its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 60.7% during the fourth quarter, Holdings Channel reports. The fund owned 462,241 shares of the business services provider’s stock after purchasing an additional 174,546 shares during the period. AGF Management Ltd.’s holdings in Thomson Reuters were worth $74,698,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Strategic Investment Advisors MI lifted its stake in Thomson Reuters by 2.7% during the 4th quarter. Strategic Investment Advisors MI now owns 2,318 shares of the business services provider’s stock valued at $372,000 after acquiring an additional 62 shares during the period. NewSquare Capital LLC lifted its position in shares of Thomson Reuters by 1.5% in the fourth quarter. NewSquare Capital LLC now owns 4,335 shares of the business services provider’s stock valued at $695,000 after acquiring an additional 62 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Thomson Reuters by 5.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,196 shares of the business services provider’s stock valued at $192,000 after buying an additional 64 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in Thomson Reuters by 1.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 4,235 shares of the business services provider’s stock valued at $722,000 after acquiring an additional 66 shares during the last quarter. Finally, Addison Advisors LLC boosted its stake in Thomson Reuters by 5.7% during the fourth quarter. Addison Advisors LLC now owns 1,271 shares of the business services provider’s stock valued at $204,000 after buying an additional 68 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRI. The Goldman Sachs Group upped their price objective on Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a research 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. Scotiabank increased their price target on Thomson Reuters from $187.00 to $188.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company upped their price objective on Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, CIBC raised their price objective on Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Thomson Reuters presently has a consensus rating of “Hold” and a consensus price target of $182.09.

Thomson Reuters Stock Down 2.2 %

Thomson Reuters stock opened at $173.74 on Tuesday. The stock has a market cap of $78.19 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 5.67 and a beta of 0.70. Thomson Reuters Co. has a fifty-two week low of $149.50 and a fifty-two week high of $180.42. The firm’s 50-day simple moving average is $168.74 and its 200 day simple moving average is $167.69. 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 (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were given a $0.595 dividend. The ex-dividend date was Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a yield of 1.37%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. 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.