Korea Investment CORP Buys 6,298 Shares of Thomson Reuters Co. $TRI

Korea Investment CORP lifted its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 5.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 117,737 shares of the business services provider’s stock after purchasing an additional 6,298 shares during the quarter. Korea Investment CORP’s holdings in Thomson Reuters were worth $20,314,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in TRI. Mackenzie Financial Corp lifted its stake in Thomson Reuters by 139.5% during the fourth quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider’s stock worth $1,370,564,000 after purchasing an additional 4,977,006 shares during the last quarter. TD Asset Management Inc lifted its stake in Thomson Reuters by 15.7% during the first quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider’s stock worth $951,477,000 after purchasing an additional 750,063 shares during the last quarter. Nuveen LLC bought a new stake in Thomson Reuters during the first quarter worth $23,126,000. GAMMA Investing LLC lifted its stake in Thomson Reuters by 16,802.9% during the first quarter. GAMMA Investing LLC now owns 116,799 shares of the business services provider’s stock worth $20,181,000 after purchasing an additional 116,108 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in Thomson Reuters by 111.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 186,426 shares of the business services provider’s stock worth $29,899,000 after purchasing an additional 98,441 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. TD Securities cut their target price on Thomson Reuters from $215.00 to $208.00 and set a “sector perform” rating for the company in a research note on Thursday, August 7th. Canaccord Genuity Group upped their target price on Thomson Reuters from $181.00 to $182.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on Thomson Reuters from $177.00 to $178.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Barclays upped their target price on Thomson Reuters from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Finally, Scotiabank upgraded shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $188.00 to $200.00 in a report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $194.20.

Thomson Reuters Stock Up 0.5%

Shares of NYSE:TRI opened at $175.77 on Thursday. The company has a fifty day moving average of $195.14 and a 200-day moving average of $185.30. The company has a market capitalization of $79.21 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. 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 Co. has a 52-week low of $151.60 and a 52-week high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.79 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. On average, equities analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, August 19th. Thomson Reuters’s dividend payout ratio is presently 65.75%.

Thomson Reuters 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.