Cidel Asset Management Inc. trimmed its holdings in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 83.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,925 shares of the business services provider’s stock after selling 192,633 shares during the quarter. Cidel Asset Management Inc.’s holdings in Thomson Reuters were worth $5,382,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in TRI. Toronto Dominion Bank boosted its position in shares of Thomson Reuters by 8.4% during the 1st quarter. Toronto Dominion Bank now owns 1,327,821 shares of the business services provider’s stock worth $78,691,000 after purchasing an additional 103,158 shares in the last quarter. Hilton Capital Management LLC grew its holdings in shares of Thomson Reuters by 67.7% during the 1st quarter. Hilton Capital Management LLC now owns 327,828 shares of the business services provider’s stock worth $19,407,000 after purchasing an additional 132,315 shares in the last quarter. Beutel Goodman & Co Ltd. grew its holdings in shares of Thomson Reuters by 0.8% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 1,786,005 shares of the business services provider’s stock worth $105,675,000 after purchasing an additional 13,570 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Thomson Reuters by 110.3% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,010 shares of the business services provider’s stock worth $194,000 after purchasing an additional 1,579 shares in the last quarter. Finally, Advisor Group Inc. grew its holdings in shares of Thomson Reuters by 43.0% during the 1st quarter. Advisor Group Inc. now owns 17,349 shares of the business services provider’s stock worth $1,028,000 after purchasing an additional 5,213 shares in the last quarter. 20.00% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently weighed in on TRI shares. Bank of America lifted their price objective on Thomson Reuters from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. ValuEngine lowered Thomson Reuters from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Macquarie downgraded Thomson Reuters from an “outperform” rating to a “neutral” rating and set a $65.47 price target for the company. in a research note on Tuesday, June 25th. National Bank Financial downgraded Thomson Reuters from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 29th. Finally, Canaccord Genuity lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $70.59.
Thomson Reuters stock traded up $0.16 during midday trading on Friday, hitting $67.58. 39,460 shares of the stock were exchanged, compared to its average volume of 448,689. Thomson Reuters Corp has a fifty-two week low of $46.45 and a fifty-two week high of $71.28. The stock has a market capitalization of $34.05 billion, a price-to-earnings ratio of 90.11, a PEG ratio of 3.10 and a beta of 0.54. The stock’s 50-day simple moving average is $67.83 and its 200 day simple moving average is $63.30. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.36.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.08. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Thomson Reuters had a net margin of 69.36% and a return on equity of 5.16%. Thomson Reuters’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $0.17 earnings per share. Equities analysts anticipate that Thomson Reuters Corp will post 1.21 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 22nd will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.10 annualized dividend and a dividend yield of 1.63%. Thomson Reuters’s dividend payout ratio is presently 192.00%.
About Thomson Reuters
Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.
Recommended Story: What is dollar cost averaging (DCA)?
Receive News & Ratings for Thomson Reuters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thomson Reuters and related companies with MarketBeat.com's FREE daily email newsletter.