Cidel Asset Management Inc. Sells 102,678 Shares of Thomson Reuters Corp $TRI

Cidel Asset Management Inc. cut its position in Thomson Reuters Corp (NASDAQ:TRI) by 95.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,570 shares of the company’s stock after selling 102,678 shares during the quarter. Cidel Asset Management Inc.’s holdings in Thomson Reuters were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Asset Management Inc boosted its holdings in Thomson Reuters by 0.7% during the fourth quarter. TD Asset Management Inc now owns 4,664,372 shares of the company’s stock valued at $616,342,000 after acquiring an additional 33,418 shares during the period. TLT Family Holdco ULC bought a new position in shares of Thomson Reuters in the second quarter worth about $865,442,000. SEG Family Corp. bought a new position in shares of Thomson Reuters in the second quarter worth about $659,930,000. Morgan Stanley lifted its position in shares of Thomson Reuters by 31.2% during the 4th quarter. Morgan Stanley now owns 2,802,312 shares of the company’s stock worth $369,597,000 after purchasing an additional 665,743 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Thomson Reuters by 9.9% during the 4th quarter. Invesco Ltd. now owns 2,476,965 shares of the company’s stock worth $326,687,000 after purchasing an additional 223,722 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TRI. Scotia lowered their target price on Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 6th. Canaccord Genuity Group reduced their price objective on Thomson Reuters from $134.00 to $132.50 and set a “buy” rating for the company in a research report on Thursday, August 6th. Wells Fargo & Company set a $85.00 price objective on shares of Thomson Reuters and gave the stock an “equal weight” rating in a research note on Tuesday, June 30th. Royal Bank Of Canada boosted their target price on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Barclays cut their target price on shares of Thomson Reuters from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Thomson Reuters currently has an average rating of “Moderate Buy” and an average target price of $131.57.

Thomson Reuters Trading Down 1.3%

Thomson Reuters stock opened at $95.71 on Friday. The business has a 50 day moving average price of $99.50 and a two-hundred day moving average price of $93.50. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12. The stock has a market cap of $41.69 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.86 and a beta of 0.74. Thomson Reuters Corp has a 12 month low of $76.28 and a 12 month high of $174.34.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.03. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.Thomson Reuters’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.87 EPS. As a group, equities analysts forecast that Thomson Reuters Corp will post 4.48 EPS for the current year.

Thomson Reuters Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a $0.655 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.7%. Thomson Reuters’s dividend payout ratio is currently 69.68%.

Thomson Reuters Company Profile

Thomson Reuters Corporation is a global provider of information, software, and technology solutions for professionals and institutions. Its products and services support legal professionals, corporations, tax and accounting firms, governments, and media organizations, helping customers manage regulatory requirements, research information, analyze data, and improve workflow efficiency.

The company’s offerings include legal research and practice-management solutions, tax and accounting software, corporate compliance and risk-management tools, and products designed for government and regulatory users.