Connor Clark & Lunn Investment Management Ltd. Sells 97,813 Shares of Thomson Reuters Co. $TRI

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,045,871 shares of the business services provider’s stock after selling 97,813 shares during the quarter. Thomson Reuters makes up 1.0% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 20th largest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Thomson Reuters were worth $317,616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. AlphaCore Capital LLC bought a new stake in Thomson Reuters during the 2nd quarter worth about $39,000. Cullen Frost Bankers Inc. increased its position in Thomson Reuters by 50.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 83 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of Thomson Reuters by 100.0% in the third quarter. Westside Investment Management Inc. now owns 338 shares of the business services provider’s stock worth $52,000 after acquiring an additional 169 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Thomson Reuters during the third quarter worth approximately $57,000. Finally, SBI Securities Co. Ltd. lifted its position in shares of Thomson Reuters by 30.9% during the second quarter. SBI Securities Co. Ltd. now owns 309 shares of the business services provider’s stock worth $62,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TRI shares. Bank of America raised their price target on shares of Thomson Reuters from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday. Canaccord Genuity Group reduced their price objective on Thomson Reuters from $174.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. JPMorgan Chase & Co. decreased their price objective on Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, February 6th. The Goldman Sachs Group set a $111.00 target price on Thomson Reuters and gave the company a “buy” rating in a research note on Saturday, February 7th. Finally, Wells Fargo & Company set a $140.00 price target on Thomson Reuters and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.42.

Thomson Reuters Stock Down 0.6%

Shares of NYSE:TRI opened at $103.11 on Thursday. The company has a 50 day moving average price of $107.64 and a two-hundred day moving average price of $135.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The company has a market capitalization of $45.89 billion, a PE ratio of 21.09, a PEG ratio of 5.67 and a beta of 0.81. Thomson Reuters Co. has a 52 week low of $79.71 and a 52 week high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, February 5th. The business services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the firm posted $1.01 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.655 per share. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.60. This represents a $2.62 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, February 17th. Thomson Reuters’s dividend payout ratio is presently 78.68%.

About Thomson Reuters

Thomson Reuters (NYSE: TRI) is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company’s product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.