Cumberland Partners Ltd Has $33.45 Million Stock Position in Thomson Reuters Co. (NYSE:TRI)

Cumberland Partners Ltd increased its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 228,779 shares of the business services provider’s stock after acquiring an additional 948 shares during the quarter. Thomson Reuters comprises approximately 2.9% of Cumberland Partners Ltd’s holdings, making the stock its 11th largest holding. Cumberland Partners Ltd’s holdings in Thomson Reuters were worth $33,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TRI. Bank of Nova Scotia bought a new position in Thomson Reuters during the third quarter worth $170,036,000. FMR LLC increased its position in Thomson Reuters by 26.3% during the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after acquiring an additional 1,179,155 shares during the period. Legal & General Group Plc increased its holdings in Thomson Reuters by 6,607,664.7% in the 3rd quarter. Legal & General Group Plc now owns 1,123,320 shares of the business services provider’s stock valued at $138,048,000 after buying an additional 1,123,303 shares during the period. Mackenzie Financial Corp increased its holdings in Thomson Reuters by 17.3% in the 3rd quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock valued at $755,514,000 after buying an additional 919,603 shares during the period. Finally, Toronto Dominion Bank increased its holdings in Thomson Reuters by 361.6% in the 3rd quarter. Toronto Dominion Bank now owns 1,142,194 shares of the business services provider’s stock valued at $139,713,000 after buying an additional 894,776 shares during the period. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Price Performance

NYSE TRI traded up $0.60 on Tuesday, hitting $153.59. 323,424 shares of the company were exchanged, compared to its average volume of 306,799. The firm has a 50 day moving average of $155.86 and a two-hundred day moving average of $145.04. The company has a market cap of $69.33 billion, a P/E ratio of 26.30, a P/E/G ratio of 3.91 and a beta of 0.65. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. Thomson Reuters Co. has a 1-year low of $117.46 and a 1-year high of $161.57.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.82 billion. Thomson Reuters had a net margin of 39.67% and a return on equity of 14.01%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. On average, equities analysts predict that Thomson Reuters Co. will post 3.58 EPS for the current year.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.54 per share. The ex-dividend date was Tuesday, February 20th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.49. This represents a $2.16 dividend on an annualized basis and a yield of 1.41%. Thomson Reuters’s dividend payout ratio is presently 36.99%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TRI. Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $150.00 to $180.00 in a report on Thursday, March 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $153.00 price target on shares of Thomson Reuters in a report on Wednesday, March 13th. CIBC boosted their price target on shares of Thomson Reuters from $146.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. TD Securities boosted their price target on shares of Thomson Reuters from $210.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. Finally, National Bank Financial upgraded shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $157.42.

About Thomson Reuters

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.