JCIC Asset Management Inc. Makes New Investment in Thomson Reuters Co. $TRI

JCIC Asset Management Inc. purchased a new stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 25,863 shares of the business services provider’s stock, valued at approximately $4,015,000. Thomson Reuters comprises approximately 1.3% of JCIC Asset Management Inc.’s holdings, making the stock its 29th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in TRI. PFG Investments LLC lifted its position in Thomson Reuters by 2.2% in the 2nd quarter. PFG Investments LLC now owns 2,660 shares of the business services provider’s stock valued at $535,000 after acquiring an additional 57 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Thomson Reuters by 4.6% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 1,414 shares of the business services provider’s stock worth $284,000 after purchasing an additional 62 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Thomson Reuters by 1.5% during the first quarter. Rhumbline Advisers now owns 4,456 shares of the business services provider’s stock valued at $770,000 after purchasing an additional 68 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Thomson Reuters by 0.8% during the second quarter. Signaturefd LLC now owns 8,426 shares of the business services provider’s stock valued at $1,695,000 after purchasing an additional 70 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted 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 valued at $62,000 after buying an additional 73 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Royal Bank Of Canada lowered their target price on shares of Thomson Reuters from $208.00 to $182.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. CIBC set a $183.00 price objective on shares of Thomson Reuters and gave the company an “outperformer” rating in a report on Friday. Scotiabank restated an “outperform” rating and issued a $189.00 target price (down previously from $200.00) on shares of Thomson Reuters in a report on Wednesday, November 5th. BMO Capital Markets reiterated an “outperform” rating on shares of Thomson Reuters in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group set a $186.00 price target on Thomson Reuters and gave the company a “buy” rating in a report on Wednesday, October 15th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $188.55.

Thomson Reuters Stock Down 0.7%

Shares of TRI stock opened at $124.02 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a 12 month low of $123.21 and a 12 month high of $218.42. The stock has a market cap of $55.17 billion, a P/E ratio of 25.36, a P/E/G ratio of 5.67 and a beta of 0.80. The company has a 50 day simple moving average of $132.28 and a two-hundred day simple moving average of $159.58.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS. On average, research analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were paid a $0.595 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $2.38 annualized dividend and a dividend yield of 1.9%. Thomson Reuters’s dividend payout ratio (DPR) is 61.18%.

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.