Thomson Reuters Corp (TRI) Holdings Decreased by Global Financial Private Capital LLC
Global Financial Private Capital LLC lessened its holdings in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 26.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,975 shares of the business services provider’s stock after selling 2,149 shares during the quarter. Global Financial Private Capital LLC’s holdings in Thomson Reuters were worth $273,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its stake in shares of Thomson Reuters by 0.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,803,317 shares of the business services provider’s stock worth $402,135,000 after purchasing an additional 60,838 shares during the period. Mawer Investment Management Ltd. lifted its stake in shares of Thomson Reuters by 20.8% during the 2nd quarter. Mawer Investment Management Ltd. now owns 3,517,788 shares of the business services provider’s stock worth $142,070,000 after purchasing an additional 604,871 shares during the period. Parnassus Investments CA lifted its stake in shares of Thomson Reuters by 39.5% during the 2nd quarter. Parnassus Investments CA now owns 2,937,541 shares of the business services provider’s stock worth $118,442,000 after purchasing an additional 832,502 shares during the period. Toronto Dominion Bank lifted its stake in shares of Thomson Reuters by 80.1% during the 2nd quarter. Toronto Dominion Bank now owns 1,845,888 shares of the business services provider’s stock worth $74,758,000 after purchasing an additional 821,146 shares during the period. Finally, Intact Investment Management Inc. lifted its stake in shares of Thomson Reuters by 27.4% during the 2nd quarter. Intact Investment Management Inc. now owns 1,085,948 shares of the business services provider’s stock worth $57,588,000 after purchasing an additional 233,700 shares during the period. 28.12% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on TRI. Morgan Stanley set a $53.00 price target on Thomson Reuters and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Zacks Investment Research lowered Thomson Reuters from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. Canaccord Genuity reissued a “buy” rating and set a $50.00 price target on shares of Thomson Reuters in a research note on Wednesday, September 5th. Bank of America reissued a “neutral” rating and set a $48.00 price target on shares of Thomson Reuters in a research note on Wednesday, October 10th. Finally, Royal Bank of Canada increased their price target on Thomson Reuters from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 7th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $50.00.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Tuesday, November 6th. The business services provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.31 billion. Thomson Reuters had a return on equity of 6.10% and a net margin of 16.21%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. On average, analysts forecast that Thomson Reuters Corp will post 0.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Thursday, November 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, November 14th. Thomson Reuters’s dividend payout ratio is presently 54.98%.
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About Thomson Reuters
Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.
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