Thomson Reuters Co. $TRI Holdings Lifted by 1832 Asset Management L.P.

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

A number of other large investors have also modified their holdings of TRI. Y Intercept Hong Kong Ltd acquired a new position in Thomson Reuters in the first quarter valued at about $626,000. Cambridge Investment Research Advisors Inc. increased its stake in Thomson Reuters by 7.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,277 shares of the business services provider's stock worth $1,948,000 after purchasing an additional 776 shares during the period. Gulf International Bank UK Ltd raised its holdings in Thomson Reuters by 2,723.3% in the first quarter. Gulf International Bank UK Ltd now owns 8,978 shares of the business services provider's stock valued at $1,551,000 after acquiring an additional 8,660 shares in the last quarter. Callan Capital LLC purchased a new position in Thomson Reuters in the first quarter valued at approximately $244,000. Finally, Ameriprise Financial Inc. increased its stake in Thomson Reuters by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 33,663 shares of the business services provider's stock valued at $5,683,000 after purchasing an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TRI. Royal Bank Of Canada lowered their price objective on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 7th. CIBC upgraded shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 19th. Wall Street Zen lowered shares of Thomson Reuters from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. TD Securities cut their price objective on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Thomson Reuters has a consensus rating of "Hold" and an average target price of $194.20.

Thomson Reuters Stock Up 0.3%

NYSE:TRI traded up $0.47 during trading hours on Wednesday, hitting $175.57. The stock had a trading volume of 216,530 shares, compared to its average volume of 885,875. Thomson Reuters Co. has a 1-year low of $151.60 and a 1-year high of $218.42. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The company has a market cap of $79.12 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. The business has a 50 day simple moving average of $193.58 and a two-hundred day simple moving average of $185.52.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share 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 business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company earned $0.85 earnings per share. The business's quarterly revenue was up 2.6% compared to the same quarter last year. Analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Dividend Announcement

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

Thomson Reuters Profile

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.