CIBC Asset Management Inc boosted its stake in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 2.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 103,733 shares of the business services provider’s stock after purchasing an additional 2,525 shares during the quarter. CIBC Asset Management Inc’s holdings in Thomson Reuters were worth $6,138,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TRI. Toronto Dominion Bank increased its holdings in shares of Thomson Reuters by 8.4% in the 1st quarter. Toronto Dominion Bank now owns 1,327,821 shares of the business services provider’s stock valued at $78,691,000 after purchasing an additional 103,158 shares during the period. Lunia Capital LP acquired a new position in shares of Thomson Reuters in the 4th quarter valued at about $15,308,000. Inlet Private Wealth LLC acquired a new position in shares of Thomson Reuters in the 4th quarter valued at about $319,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Thomson Reuters in the 4th quarter valued at about $118,000. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of Thomson Reuters in the 4th quarter valued at about $370,000. Hedge funds and other institutional investors own 21.94% of the company’s stock.
A number of brokerages have recently weighed in on TRI. Zacks Investment Research upgraded Thomson Reuters from a “sell” rating to a “hold” rating and set a $71.00 target price on the stock in a report on Saturday, May 11th. Royal Bank of Canada boosted their price target on Thomson Reuters from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. National Bank Financial cut Thomson Reuters from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 25th. CIBC reissued an “average” rating and issued a $56.00 price target on shares of Thomson Reuters in a research note on Wednesday, February 27th. Finally, Scotiabank cut Thomson Reuters from an “outperform” rating to a “sector perform” rating in a research note on Friday, January 25th. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $58.40.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.13. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Thomson Reuters had a return on equity of 4.25% and a net margin of 78.52%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. As a group, equities analysts forecast that Thomson Reuters Corp will post 1.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 2.24%. Thomson Reuters’s payout ratio is currently 192.00%.
Thomson Reuters Company Profile
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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