Varma Mutual Pension Insurance Co Invests $4.16 Million in Thomson Reuters Co. (NYSE:TRI)

Varma Mutual Pension Insurance Co purchased a new position in Thomson Reuters Co. (NYSE:TRIGet Rating) (TSE:TRI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 40,000 shares of the business services provider’s stock, valued at approximately $4,161,000.

A number of other institutional investors also recently made changes to their positions in the stock. Guardian Capital LP acquired a new position in Thomson Reuters in the second quarter valued at $26,765,000. FMR LLC increased its stake in Thomson Reuters by 2.7% in the second quarter. FMR LLC now owns 4,351,171 shares of the business services provider’s stock valued at $453,608,000 after purchasing an additional 114,071 shares during the last quarter. Korea Investment CORP increased its stake in Thomson Reuters by 3.4% in the second quarter. Korea Investment CORP now owns 136,042 shares of the business services provider’s stock valued at $14,152,000 after purchasing an additional 4,483 shares during the last quarter. Greenleaf Trust increased its stake in Thomson Reuters by 2.2% in the second quarter. Greenleaf Trust now owns 7,162 shares of the business services provider’s stock valued at $746,000 after purchasing an additional 153 shares during the last quarter. Finally, Grayhawk Investment Strategies Inc. acquired a new position in Thomson Reuters in the second quarter valued at $317,000. 21.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TRI. Morgan Stanley lowered their price target on Thomson Reuters from $112.00 to $108.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 2nd. BMO Capital Markets boosted their price target on Thomson Reuters from $160.00 to $165.00 in a research report on Wednesday, November 2nd. Canaccord Genuity Group boosted their price target on Thomson Reuters from $115.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Canaccord Genuity Group boosted their price target on Thomson Reuters from $115.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Finally, Royal Bank of Canada decreased their target price on Thomson Reuters from $118.00 to $116.00 and set an “outperform” rating for the company in a research report on Wednesday, November 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Thomson Reuters currently has an average rating of “Moderate Buy” and a consensus target price of $124.67.

Thomson Reuters Stock Up 0.3 %

TRI traded up $0.30 on Thursday, reaching $115.50. The company’s stock had a trading volume of 1,473,172 shares, compared to its average volume of 574,784. The stock has a market cap of $55.54 billion, a price-to-earnings ratio of 59.84, a price-to-earnings-growth ratio of 4.16 and a beta of 0.56. Thomson Reuters Co. has a 1 year low of $91.55 and a 1 year high of $122.76. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.68 and a quick ratio of 0.68. The business’s 50 day moving average is $106.01 and its 200 day moving average is $105.59.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be issued a $0.322 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Wednesday, November 16th. Thomson Reuters’s dividend payout ratio is currently 92.23%.

Thomson Reuters Company Profile

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Thomson Reuters Corporation provides 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.

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Institutional Ownership by Quarter for Thomson Reuters (NYSE:TRI)

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