Hillsdale Investment Management Inc. Has $20.24 Million Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Hillsdale Investment Management Inc. increased its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 153.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 126,175 shares of the business services provider’s stock after acquiring an additional 76,395 shares during the quarter. Thomson Reuters comprises about 1.0% of Hillsdale Investment Management Inc.’s holdings, making the stock its 20th largest position. Hillsdale Investment Management Inc.’s holdings in Thomson Reuters were worth $20,238,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TRI. Decker Retirement Planning Inc. acquired a new position in shares of Thomson Reuters in the 4th quarter worth approximately $26,000. Curio Wealth LLC acquired a new position in shares of Thomson Reuters in the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Thomson Reuters in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new position in shares of Thomson Reuters in the 4th quarter worth approximately $33,000. Finally, EverSource Wealth Advisors LLC lifted its position 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 during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TRI. CIBC boosted their price target on shares of Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. Scotiabank lifted their price objective on shares of Thomson Reuters from $187.00 to $188.00 and gave the company a “sector outperform” rating in a research note on Friday, February 7th. The Goldman Sachs Group lifted their price objective on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Canaccord Genuity Group lifted their price objective on shares of Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company boosted their price target on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $177.56.

Thomson Reuters Price Performance

NYSE TRI opened at $170.01 on Friday. The company has a market cap of $76.52 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 5.67 and a beta of 0.70. Thomson Reuters Co. has a 52 week low of $149.50 and a 52 week high of $180.42. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm’s 50-day simple moving average is $170.78 and its two-hundred day simple moving average is $167.83.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Research analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 20th were issued a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, February 20th. Thomson Reuters’s dividend payout ratio is presently 48.67%.

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.