BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stock Position in Thomson Reuters Co. $TRI

by · The Cerbat Gem

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of Thomson Reuters Co. (NYSE:TRI – Free Report) (TSE:TRI) by 41.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 236,029 shares of the business services provider’s stock after selling 167,214 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.05% of Thomson Reuters worth $47,494,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Thomson Reuters during the 2nd quarter worth about $275,036,000. Millennium Management LLC raised its holdings in shares of Thomson Reuters by 365.6% during the first quarter. Millennium Management LLC now owns 894,074 shares of the business services provider’s stock valued at $154,475,000 after acquiring an additional 702,036 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Thomson Reuters in the second quarter valued at approximately $98,539,000. Qube Research & Technologies Ltd boosted its stake in shares of Thomson Reuters by 123.6% in the second quarter. Qube Research & Technologies Ltd now owns 802,576 shares of the business services provider’s stock worth $161,424,000 after acquiring an additional 443,583 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Thomson Reuters by 36.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,588,508 shares of the business services provider’s stock worth $274,462,000 after purchasing an additional 421,279 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Wall Street Analyst Weigh In

TRI has been the topic of a number of research reports. Scotiabank restated an “outperform” rating and issued a $189.00 price objective (down previously from $200.00) on shares of Thomson Reuters in a report on Wednesday, November 5th. CIBC set a $198.00 price target on shares of Thomson Reuters and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Thomson Reuters in a research note on Wednesday, November 5th. Morgan Stanley set a $172.00 target price on shares of Thomson Reuters in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. dropped their price target on Thomson Reuters from $178.00 to $160.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.27.

Read Our Latest Research Report on TRI

Thomson Reuters Stock Down 0.9%

Shares of NYSE TRI opened at $130.70 on Friday. The company has a market capitalization of $58.14 billion, a P/E ratio of 26.73, a P/E/G ratio of 5.67 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The company has a 50 day simple moving average of $144.24 and a 200-day simple moving average of $171.53. Thomson Reuters Co. has a 1 year low of $128.16 and a 1 year high of $218.42.

Thomson Reuters (NYSE:TRI – Get Free Report) (TSE:TRI) last released its quarterly earnings data on Tuesday, November 4th. The business services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. On average, equities research analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were issued a dividend of $0.595 per share. The ex-dividend date was Tuesday, November 18th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.8%. Thomson Reuters’s dividend payout ratio is currently 61.18%.

Thomson Reuters Profile

(Free Report)

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.

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