Cidel Asset Management Inc. Has $25.90 Million Holdings in Thomson Reuters Co. $TRI

Key Points

• Cidel Asset Management Inc. increased its holdings in Thomson Reuters Co. by 2.4% during Q2, bringing its total investment to approximately $25.90 million.
• Equities research analysts have a consensus rating of "Moderate Buy" for Thomson Reuters, with a target price averaging $202.64 following several recent upgrades.
• Thomson Reuters recently announced a quarterly dividend of $0.595, reflecting a 1.5% dividend yield and a payout ratio of 65.75%.

Cidel Asset Management Inc. lifted its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 2.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 129,042 shares of the business services provider's stock after acquiring an additional 3,073 shares during the period. Thomson Reuters makes up approximately 1.6% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 21st largest position. Cidel Asset Management Inc.'s holdings in Thomson Reuters were worth $25,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TRI. Cullen Frost Bankers Inc. grew its stake in shares of Thomson Reuters by 772.2% in the first quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider's stock valued at $27,000 after acquiring an additional 139 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Thomson Reuters in the second quarter valued at about $37,000. SBI Securities Co. Ltd. grew its stake in Thomson Reuters by 41.3% during the first quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider's stock worth $41,000 after buying an additional 69 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in Thomson Reuters during the second quarter worth about $77,000. Finally, Fifth Third Bancorp grew its stake in Thomson Reuters by 42.8% during the first quarter. Fifth Third Bancorp now owns 484 shares of the business services provider's stock worth $84,000 after buying an additional 145 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TRI shares. The Goldman Sachs Group set a $186.00 price objective on shares of Thomson Reuters and gave the stock a "buy" rating in a research note on Wednesday. Royal Bank Of Canada reduced 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 note on Thursday, August 7th. Canaccord Genuity Group increased their price objective on shares of Thomson Reuters from $181.00 to $182.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. TD Securities upgraded shares of Thomson Reuters from a "hold" rating to a "buy" rating and increased their price objective for the stock from $275.00 to $285.00 in a research note on Thursday, August 28th. Finally, Wells Fargo & Company upgraded shares of Thomson Reuters from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $187.00 to $212.00 in a research note on Tuesday, September 9th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $202.64.

Thomson Reuters Stock Up 1.4%

Thomson Reuters stock opened at $158.53 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. Thomson Reuters Co. has a 52-week low of $149.47 and a 52-week high of $218.42. The firm has a 50 day moving average price of $166.08 and a two-hundred day moving average price of $182.68. The firm has a market cap of $71.18 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 5.67 and a beta of 0.74.

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 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.79 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Thomson Reuters's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. Equities analysts predict 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 was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $0.595 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $2.38 annualized dividend and a dividend yield of 1.5%. Thomson Reuters's payout ratio is currently 65.75%.

Thomson Reuters Company 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.

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