CIBC Asset Management Inc Has $212.49 Million Position in Thomson Reuters Corp $TRI

CIBC Asset Management Inc increased its position in Thomson Reuters Corp (NASDAQ:TRI) by 17.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,607,468 shares of the company’s stock after acquiring an additional 242,214 shares during the period. CIBC Asset Management Inc’s holdings in Thomson Reuters were worth $212,493,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TRI. Montag A & Associates Inc. acquired a new position in Thomson Reuters in the fourth quarter worth approximately $43,000. Westside Investment Management Inc. increased its holdings in Thomson Reuters by 100.0% in the third quarter. Westside Investment Management Inc. now owns 338 shares of the company’s stock worth $52,000 after buying an additional 169 shares during the last quarter. UMB Bank n.a. increased its holdings in Thomson Reuters by 21.2% in the third quarter. UMB Bank n.a. now owns 441 shares of the company’s stock worth $69,000 after buying an additional 77 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in Thomson Reuters by 1,011.7% in the fourth quarter. Hantz Financial Services Inc. now owns 667 shares of the company’s stock worth $88,000 after buying an additional 607 shares during the last quarter. Finally, Allworth Financial LP increased its position in Thomson Reuters by 72.8% during the fourth quarter. Allworth Financial LP now owns 700 shares of the company’s stock worth $92,000 after buying an additional 295 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TRI. Barclays reissued an “overweight” rating and set a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. Argus began coverage on shares of Thomson Reuters in a research report on Wednesday, April 22nd. They set a “hold” rating on the stock. Royal Bank Of Canada raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating and set a $127.89 target price on the stock in a research report on Tuesday, February 10th. Wells Fargo & Company increased their target price on shares of Thomson Reuters from $87.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings downgraded shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.84.

Thomson Reuters Trading Down 8.1%

Shares of TRI stock opened at $86.33 on Wednesday. Thomson Reuters Corp has a 12 month low of $78.60 and a 12 month high of $218.42. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $89.87 and its two-hundred day moving average is $108.56. The company has a market cap of $37.66 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.18 by $0.05. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2 billion. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 earnings per share. Equities analysts predict that Thomson Reuters Corp will post 4.44 EPS for the current year.

Thomson Reuters Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be given a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, May 20th. Thomson Reuters’s dividend payout ratio (DPR) is currently 76.16%.

Thomson Reuters Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.