Cubist Systematic Strategies LLC Purchases Shares of 35,636 Thomson Reuters Co. $TRI

Key Points

• Cubist Systematic Strategies LLC acquired 35,636 shares of Thomson Reuters Co., valued at approximately $6.16 million, during the first quarter.
• Thomson Reuters recently reported $0.87 earnings per share, surpassing analyst expectations of $0.83, alongside a revenue of $1.81 billion for the quarter.
• The company announced a quarterly dividend of $0.595 per share, yielding about 1.3%, with payment scheduled for September 10th.

Cubist Systematic Strategies LLC purchased a new stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 35,636 shares of the business services provider's stock, valued at approximately $6,156,000.

Other large investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. raised its holdings in Thomson Reuters by 772.2% in the 1st 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 during the period. Investment Management Corp VA ADV bought a new position in shares of Thomson Reuters during the fourth quarter worth approximately $29,000. SBI Securities Co. Ltd. increased its holdings in shares of 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 purchasing an additional 69 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Thomson Reuters by 25.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider's stock worth $71,000 after purchasing an additional 84 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of 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 purchasing an additional 145 shares during the period. 17.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TRI. Canaccord Genuity Group raised their target price on shares of Thomson Reuters from $181.00 to $182.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Wells Fargo & Company lowered their target price on shares of Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. National Bankshares reaffirmed an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. CIBC raised shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 19th. Finally, TD Securities raised shares of Thomson Reuters from a "hold" rating to a "buy" rating and raised their target price for the stock from $275.00 to $285.00 in a report on Thursday, August 28th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $201.90.

Thomson Reuters Stock Performance

Shares of NYSE:TRI opened at $177.50 on Thursday. The company's 50 day simple moving average is $191.36 and its 200 day simple moving average is $185.46. The stock has a market capitalization of $79.99 billion, a price-to-earnings ratio of 36.30, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. Thomson Reuters Co. has a 1 year low of $151.60 and a 1 year high of $218.42.

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

Thomson Reuters Announces Dividend

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 $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Thomson Reuters's dividend payout ratio (DPR) is 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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