Intact Investment Management Inc. Buys 74,189 Shares of Thomson Reuters Co. (NYSE:TRI)

Intact Investment Management Inc. boosted its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 8,152.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,099 shares of the business services provider’s stock after acquiring an additional 74,189 shares during the period. Intact Investment Management Inc.’s holdings in Thomson Reuters were worth $12,057,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. FMR LLC increased its stake in shares of Thomson Reuters by 0.8% in the third quarter. FMR LLC now owns 7,209,202 shares of the business services provider’s stock worth $1,229,716,000 after purchasing an additional 57,854 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Thomson Reuters by 11.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock worth $439,665,000 after purchasing an additional 255,387 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Thomson Reuters by 52.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,153,240 shares of the business services provider’s stock worth $185,011,000 after purchasing an additional 395,481 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Thomson Reuters by 115.7% in the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock worth $164,292,000 after purchasing an additional 516,715 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Thomson Reuters by 9.2% in the third quarter. Geode Capital Management LLC now owns 754,630 shares of the business services provider’s stock worth $130,341,000 after purchasing an additional 63,336 shares in the last quarter. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Price Performance

TRI stock opened at $170.01 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. Thomson Reuters Co. has a one year low of $149.50 and a one year high of $180.42. The stock has a market cap of $76.51 billion, a PE ratio of 34.77, a P/E/G ratio of 5.67 and a beta of 0.70. The firm has a 50 day simple moving average of $169.35 and a two-hundred day simple moving average of $167.76.

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

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were paid a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Thursday, February 20th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s payout ratio is currently 48.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TRI shares. Scotiabank lifted their target price on shares of Thomson Reuters from $187.00 to $188.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on shares of Thomson Reuters from $175.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their target price on shares of Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. CIBC boosted their price objective on shares of Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $177.80.

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.