CIBC Asset Management Inc increased its stake in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 2.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,733 shares of the business services provider’s stock after buying an additional 2,525 shares during the period. CIBC Asset Management Inc’s holdings in Thomson Reuters were worth $6,138,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Horan Capital Advisors LLC. bought a new stake in shares of Thomson Reuters in the first quarter worth $38,000. Private Capital Group LLC increased its stake in Thomson Reuters by 86.8% during the fourth quarter. Private Capital Group LLC now owns 964 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 448 shares during the last quarter. American Research & Management Co. bought a new stake in Thomson Reuters during the first quarter valued at $54,000. Acadian Asset Management LLC bought a new stake in Thomson Reuters during the fourth quarter valued at $82,000. Finally, Enlightenment Research LLC bought a new stake in Thomson Reuters during the fourth quarter valued at $92,000. Institutional investors and hedge funds own 21.94% of the company’s stock.
Several research firms have weighed in on TRI. Zacks Investment Research upgraded shares of Thomson Reuters from a “sell” rating to a “hold” rating and set a $71.00 target price for the company in a research note on Saturday, May 11th. Royal Bank of Canada boosted their target price on shares of Thomson Reuters from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. ValuEngine upgraded shares of Thomson Reuters from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 1st. Morgan Stanley boosted their target price on shares of Thomson Reuters from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, April 22nd. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.40.
Shares of TRI opened at $64.22 on Thursday. Thomson Reuters Corp has a 1 year low of $41.79 and a 1 year high of $65.07. The firm has a market cap of $32.18 billion, a PE ratio of 85.63, a PEG ratio of 6.24 and a beta of 0.63. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.83 and a quick ratio of 1.83.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.13. Thomson Reuters had a net margin of 78.52% and a return on equity of 4.25%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts anticipate that Thomson Reuters Corp will post 1.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, May 22nd. Thomson Reuters’s dividend payout ratio (DPR) is 192.00%.
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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.
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