Cidel Asset Management Inc. Sells 157 Shares of Thomson Reuters Co. (NYSE:TRI)

Cidel Asset Management Inc. cut its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,389 shares of the business services provider’s stock after selling 157 shares during the period. Cidel Asset Management Inc.’s holdings in Thomson Reuters were worth $834,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRI. Exchange Traded Concepts LLC purchased a new stake in shares of Thomson Reuters in the second quarter valued at about $25,000. Red Door Wealth Management LLC bought a new stake in Thomson Reuters in the 2nd quarter worth about $33,000. BDO Wealth Advisors LLC bought a new stake in Thomson Reuters in the 1st quarter worth about $35,000. Harbour Investments Inc. purchased a new stake in Thomson Reuters in the 1st quarter valued at about $39,000. Finally, HM Payson & Co. bought a new position in shares of Thomson Reuters during the 1st quarter worth approximately $44,000. 21.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:TRI traded up $0.43 during midday trading on Wednesday, reaching $118.90. 33,099 shares of the company traded hands, compared to its average volume of 453,359. The firm’s fifty day moving average price is $110.43 and its two-hundred day moving average price is $99.41. The firm has a market capitalization of $58.96 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 5.13 and a beta of 0.45. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.24. Thomson Reuters Co. has a 12 month low of $76.17 and a 12 month high of $120.31.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, August 5th. The business services provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.05. Thomson Reuters had a return on equity of 7.89% and a net margin of 111.93%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. Analysts forecast that Thomson Reuters Co. will post 1.92 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Thursday, August 19th will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.36%. The ex-dividend date is Wednesday, August 18th. Thomson Reuters’s payout ratio is 88.04%.

A number of analysts recently commented on TRI shares. Canaccord Genuity downgraded Thomson Reuters from a “buy” rating to a “hold” rating and increased their price target for the company from $102.00 to $108.00 in a research report on Friday, August 6th. National Bank Financial raised their target price on Thomson Reuters from C$145.00 to C$162.00 and gave the company a “sector perform” rating in a research report on Thursday, September 2nd. TD Securities downgraded shares of Thomson Reuters from a “buy” rating to a “hold” rating and boosted their price target for the stock from $155.00 to $160.00 in a report on Friday, September 3rd. They noted that the move was a valuation call. Royal Bank of Canada increased their price target on shares of Thomson Reuters from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, August 6th. Finally, Zacks Investment Research upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Tuesday, August 10th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $122.40.

About Thomson Reuters

Thomson Reuters Corp. engages in the provision of news and information for professional markets. It operates through the following segments: Legal Professionals, Corporates, Tax and Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment provides research and workflow products to law firms and government.

Further Reading: Hold Rating

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Institutional Ownership by Quarter for Thomson Reuters (NYSE:TRI)

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