1832 Asset Management L.P. Has $287.70 Million Stock Position in Thomson Reuters Co. $TRI

Key Points

• 1832 Asset Management L.P. increased its stake in Thomson Reuters Co. to 1,665,117 shares, valued at approximately $287.70 million, representing a 1.0% increase during the first quarter.
• Thomson Reuters reported $1.81 billion in revenue for its latest quarter, surpassing analysts' expectations, with earnings per share of $0.87 compared to a consensus estimate of $0.83.
• The company announced a quarterly dividend of $0.595 per share, resulting in an annualized yield of 1.4%, with a payout ratio of 65.75%.

1832 Asset Management L.P. raised its holdings in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 1.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,665,117 shares of the business services provider's stock after acquiring an additional 17,223 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.37% of Thomson Reuters worth $287,699,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in shares of Thomson Reuters during the 1st quarter worth approximately $626,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Thomson Reuters by 7.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,277 shares of the business services provider's stock worth $1,948,000 after acquiring an additional 776 shares in the last quarter. Gulf International Bank UK Ltd grew its stake in shares of Thomson Reuters by 2,723.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 8,978 shares of the business services provider's stock worth $1,551,000 after acquiring an additional 8,660 shares in the last quarter. Callan Capital LLC bought a new position in shares of Thomson Reuters during the 1st quarter worth approximately $244,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Thomson Reuters by 0.9% during the 4th quarter. Ameriprise Financial Inc. now owns 33,663 shares of the business services provider's stock worth $5,683,000 after acquiring an additional 313 shares in the last quarter. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Trading Up 0.2%

TRI stock opened at $176.09 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The company has a fifty day moving average price of $194.72 and a two-hundred day moving average price of $185.34. Thomson Reuters Co. has a one year low of $151.60 and a one year high of $218.42. The stock has a market cap of $79.35 billion, a price-to-earnings ratio of 36.01, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.79 billion. During the same period in the previous year, the business posted $0.85 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Thomson Reuters's payout ratio is 65.75%.

Analysts Set New Price Targets

TRI has been the subject of several research reports. Scotiabank raised shares of Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $188.00 to $200.00 in a research note on Wednesday, August 6th. CIBC raised shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a research note on Tuesday. Wall Street Zen cut shares of Thomson Reuters from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Wells Fargo & Company decreased their target price on shares of Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Thomson Reuters from $177.00 to $178.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Thomson Reuters currently has an average rating of "Hold" and a consensus target price of $194.20.

About Thomson Reuters

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting 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 to law firms and governments.

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