PCJ Investment Counsel Ltd. reduced its holdings in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 12.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 342,072 shares of the business services provider’s stock after selling 50,288 shares during the quarter. Thomson Reuters makes up about 1.7% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 21st largest holding. PCJ Investment Counsel Ltd.’s holdings in Thomson Reuters were worth $20,246,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in TRI. Horan Capital Advisors LLC. acquired a new position in Thomson Reuters in the 1st quarter valued at approximately $38,000. Private Capital Group LLC increased its position in Thomson Reuters by 86.8% in the 4th quarter. Private Capital Group LLC now owns 964 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 448 shares during the period. American Research & Management Co. acquired a new position in Thomson Reuters in the 1st quarter valued at approximately $54,000. Acadian Asset Management LLC acquired a new position in Thomson Reuters in the 4th quarter valued at approximately $82,000. Finally, Enlightenment Research LLC acquired a new stake in shares of Thomson Reuters during the fourth quarter worth $92,000. Hedge funds and other institutional investors own 21.94% of the company’s stock.
TRI has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on shares of Thomson Reuters from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Zacks Investment Research upgraded shares of Thomson Reuters from a “sell” rating to a “hold” rating and set a $71.00 price objective for the company in a research report on Saturday, May 11th. ValuEngine upgraded shares of Thomson Reuters from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 1st. National Bank Financial cut shares of Thomson Reuters from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 25th. Finally, CIBC reissued an “average” rating and set a $56.00 target price on shares of Thomson Reuters in a research note on Wednesday, February 27th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $58.40.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.13. Thomson Reuters had a net margin of 78.52% and a return on equity of 4.25%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Thomson Reuters Corp will post 1.13 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Wednesday, May 22nd. Thomson Reuters’s dividend payout ratio (DPR) is 192.00%.
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Thomson Reuters Profile
Thomson Reuters Corporation provides news and information-based tools to professionals worldwide. It operates through five segments: Legal Professionals, Corporates, Tax 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.
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