Bridgewater Associates LP grew its position in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 16.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,094 shares of the business services provider’s stock after buying an additional 17,693 shares during the period. Bridgewater Associates LP’s holdings in Thomson Reuters were worth $5,658,000 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. Cerebellum GP LLC purchased a new position in shares of Thomson Reuters during the 3rd quarter valued at $190,000. Northern Trust Corp lifted its position in shares of Thomson Reuters by 4.8% during the 2nd quarter. Northern Trust Corp now owns 516,102 shares of the business services provider’s stock valued at $20,809,000 after buying an additional 23,457 shares during the last quarter. Thornburg Investment Management Inc. purchased a new position in shares of Thomson Reuters during the 3rd quarter valued at $11,786,000. Marathon Trading Investment Management LLC purchased a new position in shares of Thomson Reuters during the 2nd quarter valued at $202,000. Finally, Jane Street Group LLC lifted its position in shares of Thomson Reuters by 83.4% during the 2nd quarter. Jane Street Group LLC now owns 51,973 shares of the business services provider’s stock valued at $2,096,000 after buying an additional 23,638 shares during the last quarter. 31.67% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on TRI shares. Goldman Sachs Group initiated coverage on Thomson Reuters in a research report on Thursday, October 18th. They set a “neutral” rating on the stock. Morgan Stanley set a $51.00 price objective on Thomson Reuters and gave the company a “buy” rating in a research note on Monday, October 15th. Canaccord Genuity reiterated a “buy” rating and set a $50.00 price objective on shares of Thomson Reuters in a research note on Wednesday, September 5th. ValuEngine upgraded Thomson Reuters from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. Finally, TD Securities reiterated a “buy” rating and set a $69.00 price objective on shares of Thomson Reuters in a research note on Wednesday, November 7th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Thomson Reuters currently has an average rating of “Buy” and an average price target of $50.00.
NYSE:TRI opened at $50.32 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.45 and a current ratio of 2.45. Thomson Reuters Corp has a 52-week low of $36.52 and a 52-week high of $50.56. The firm has a market cap of $25.41 billion, a P/E ratio of 18.23, a P/E/G ratio of 8.14 and a beta of 0.52.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Tuesday, November 6th. The business services provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.31 billion. Thomson Reuters had a return on equity of 6.10% and a net margin of 16.21%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. Research analysts forecast that Thomson Reuters Corp will post 0.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Thursday, November 15th will be paid a $0.35 dividend. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.35. This represents a $1.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, November 14th. Thomson Reuters’s dividend payout ratio is currently 216.67%.
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About Thomson Reuters
Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.
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