Cidel Asset Management Inc. raised its position in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 8.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 89,158 shares of the business services provider’s stock after purchasing an additional 7,301 shares during the period. Cidel Asset Management Inc.’s holdings in Thomson Reuters Corp were worth $4,080,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of TRI. Ameriprise Financial Inc. grew its holdings in Thomson Reuters Corp by 7.0% in the first quarter. Ameriprise Financial Inc. now owns 35,514 shares of the business services provider’s stock valued at $1,535,000 after purchasing an additional 2,312 shares during the last quarter. Teachers Advisors LLC grew its holdings in Thomson Reuters Corp by 10.7% in the first quarter. Teachers Advisors LLC now owns 356,056 shares of the business services provider’s stock valued at $15,392,000 after purchasing an additional 34,508 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Thomson Reuters Corp by 9.5% in the first quarter. PNC Financial Services Group Inc. now owns 11,392 shares of the business services provider’s stock valued at $492,000 after purchasing an additional 985 shares during the last quarter. Vanguard Group Inc. grew its holdings in Thomson Reuters Corp by 2.7% in the first quarter. Vanguard Group Inc. now owns 7,317,244 shares of the business services provider’s stock valued at $316,324,000 after purchasing an additional 193,354 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Thomson Reuters Corp by 157.5% in the first quarter. Geode Capital Management LLC now owns 572,389 shares of the business services provider’s stock valued at $24,753,000 after purchasing an additional 350,074 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.
Several analysts have weighed in on TRI shares. Zacks Investment Research raised Thomson Reuters Corp from a “sell” rating to a “hold” rating and set a $53.00 target price on the stock in a report on Thursday, August 3rd. Credit Suisse Group started coverage on Thomson Reuters Corp in a report on Tuesday, October 24th. They issued a “neutral” rating and a $52.00 target price on the stock. Royal Bank Of Canada upped their target price on Thomson Reuters Corp from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Wednesday, August 2nd. Deutsche Bank AG upped their target price on Thomson Reuters Corp from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, BidaskClub lowered Thomson Reuters Corp from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $52.00.
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Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last issued its earnings results on Wednesday, November 1st. The business services provider reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.10. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Thomson Reuters Corp had a return on equity of 13.64% and a net margin of 26.81%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.345 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.95%. Thomson Reuters Corp’s dividend payout ratio is 33.91%.
About Thomson Reuters Corp
Thomson Reuters Corporation (Thomson Reuters) is a Canada-based provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk unit is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.
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