35,636 Shares in Thomson Reuters Co. $TRI Bought by Cubist Systematic Strategies LLC

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 position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,636 shares of the business services provider's stock, valued at approximately $6,156,000.

Several other hedge funds have also recently bought and sold shares of TRI. Brighton Jones LLC acquired a new position in Thomson Reuters during the fourth quarter worth $448,000. Northern Trust Corp boosted its position in Thomson Reuters by 50.9% during the fourth quarter. Northern Trust Corp now owns 202,554 shares of the business services provider's stock worth $32,486,000 after purchasing an additional 68,314 shares during the period. Jane Street Group LLC boosted its position in Thomson Reuters by 68.6% during the fourth quarter. Jane Street Group LLC now owns 18,211 shares of the business services provider's stock worth $2,921,000 after purchasing an additional 7,410 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Thomson Reuters by 29.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 3,208 shares of the business services provider's stock worth $515,000 after purchasing an additional 725 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Thomson Reuters by 0.9% during the fourth quarter. Ameriprise Financial Inc. now owns 33,663 shares of the business services provider's stock worth $5,683,000 after purchasing an additional 313 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Trading Up 0.8%

TRI stock traded up $1.34 during trading on Tuesday, hitting $174.90. The company had a trading volume of 255,312 shares, compared to its average volume of 892,485. The business has a 50-day moving average of $189.97 and a 200-day moving average of $185.64. 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 $78.83 billion, a PE ratio of 35.77, a PEG ratio of 5.67 and a beta of 0.74. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15.

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

Thomson Reuters Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TRI shares. Royal Bank Of Canada cut their price objective on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a research report on Thursday, August 7th. CIBC raised shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 19th. National Bankshares reaffirmed an "outperform" rating on shares of Thomson Reuters in a research report on Thursday, July 10th. Wells Fargo & Company raised Thomson Reuters from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $187.00 to $212.00 in a research note on Tuesday. Finally, TD Securities raised Thomson Reuters from a "hold" rating to a "buy" rating and boosted their target price for the stock from $275.00 to $285.00 in a research note on Thursday, August 28th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $204.40.

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.