Thomson Reuters Corp $TRI Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its stake in shares of Thomson Reuters Corp (NASDAQ:TRI) by 122.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,248 shares of the company’s stock after purchasing an additional 58,963 shares during the period. Cidel Asset Management Inc.’s holdings in Thomson Reuters were worth $9,649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRI. Empowered Funds LLC purchased a new stake in Thomson Reuters during the 4th quarter worth approximately $30,000. Timmons Wealth Management LLC purchased a new position in shares of Thomson Reuters in the fourth quarter valued at approximately $42,000. Montag A & Associates Inc. purchased a new position in shares of Thomson Reuters in the fourth quarter valued at approximately $43,000. J.Safra Asset Management Corp acquired a new stake in shares of Thomson Reuters in the fourth quarter worth approximately $56,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of Thomson Reuters by 1,011.7% in the fourth quarter. Hantz Financial Services Inc. now owns 667 shares of the company’s stock worth $88,000 after acquiring an additional 607 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock opened at $80.71 on Wednesday. The business’s 50 day moving average price is $87.12 and its 200 day moving average price is $102.29. The company has a market cap of $35.21 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 1.14 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 0.60. Thomson Reuters Corp has a one year low of $76.28 and a one year high of $218.42.

Thomson Reuters (NASDAQ:TRI) last issued its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.05. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period in the prior year, the business earned $1.12 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts predict that Thomson Reuters Corp will post 4.44 EPS for the current year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, May 20th. Thomson Reuters’s dividend payout ratio (DPR) is presently 76.16%.

Analyst Upgrades and Downgrades

TRI has been the subject of several recent research reports. Bank of America reduced their price objective on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, May 19th. Argus began coverage on shares of Thomson Reuters in a research note on Wednesday, April 22nd. They set a “hold” rating on the stock. UBS Group set a $185.74 target price on shares of Thomson Reuters and gave the stock a “buy” rating in a report on Thursday, April 23rd. TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a research report on Wednesday, May 6th. Finally, Scotiabank set a $138.00 price target on shares of Thomson Reuters and gave the stock a “sector outperform” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.84.

Thomson Reuters Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.