Mackenzie Financial Corp Grows Stake in Thomson Reuters Co. (NYSE:TRI)

Mackenzie Financial Corp grew its position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 139.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,544,503 shares of the business services provider’s stock after buying an additional 4,977,006 shares during the quarter. Thomson Reuters accounts for approximately 1.8% of Mackenzie Financial Corp’s holdings, making the stock its 9th largest position. Mackenzie Financial Corp’s holdings in Thomson Reuters were worth $1,370,564,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Curio Wealth LLC bought a new position in shares of Thomson Reuters during the 4th quarter valued at $26,000. SBI Securities Co. Ltd. bought a new position in shares of Thomson Reuters during the 4th quarter valued at $27,000. Investment Management Corp VA ADV bought a new position in shares of Thomson Reuters during the 4th quarter valued at $29,000. Noble Wealth Management PBC purchased a new stake in shares of Thomson Reuters in the 4th quarter worth $33,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Thomson Reuters by 60.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider’s stock worth $58,000 after purchasing an additional 136 shares in the last quarter. 17.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. CIBC upped their price objective on Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. Wall Street Zen lowered Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Bank of America assumed coverage on Thomson Reuters in a research note on Thursday, April 10th. They issued a “neutral” rating and a $180.00 price objective for the company. Royal Bank of Canada upped their price objective on Thomson Reuters from $182.00 to $185.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. Finally, TD Securities increased their price target on Thomson Reuters from $177.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $183.70.

Thomson Reuters Trading Up 0.5%

Shares of TRI stock opened at $195.12 on Friday. Thomson Reuters Co. has a 52-week low of $150.01 and a 52-week high of $196.27. 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 firm has a market capitalization of $87.90 billion, a PE ratio of 39.90, a PEG ratio of 5.67 and a beta of 0.75. The stock has a fifty day simple moving average of $179.56 and a two-hundred day simple moving average of $171.56.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.05 by $0.07. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The business’s revenue was up .8% on a year-over-year basis. On average, 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 Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, May 15th. Thomson Reuters’s dividend payout ratio (DPR) is presently 49.69%.

Thomson Reuters Company 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.