Cidel Asset Management Inc. Has $373,000 Holdings in Thomson Reuters Corp $TRI

Cidel Asset Management Inc. lessened its holdings in shares of Thomson Reuters Corp (NASDAQ:TRI) by 95.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Empowered Funds LLC purchased a new position in Thomson Reuters during the fourth quarter valued at approximately $30,000. Timmons Wealth Management LLC purchased a new stake in Thomson Reuters in the 4th quarter worth approximately $42,000. Continuum Advisory LLC acquired a new stake in shares of Thomson Reuters during the 2nd quarter valued at $45,000. Western Wealth Management LLC acquired a new stake in shares of Thomson Reuters during the 1st quarter valued at $48,000. Finally, J.Safra Asset Management Corp purchased a new position in shares of Thomson Reuters during the 4th quarter valued at $56,000. 17.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRI has been the topic of a number of research reports. Scotiabank reaffirmed a “sector outperform” rating and issued a $135.00 price target on shares of Thomson Reuters in a research note on Thursday, August 6th. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research note on Thursday, August 6th. Royal Bank Of Canada upped their target price on Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Scotia cut their price target on Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 6th. Finally, Bank of America reduced their price target on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Thomson Reuters presently has an average rating of “Moderate Buy” and an average target price of $131.57.

Thomson Reuters Trading Down 1.3%

Shares of NASDAQ:TRI opened at $95.71 on Friday. The stock has a market capitalization of $41.69 billion, a PE ratio of 25.48, a P/E/G ratio of 1.86 and a beta of 0.74. Thomson Reuters Corp has a 1 year low of $76.28 and a 1 year high of $174.34. The firm has a fifty day moving average price of $99.50 and a 200 day moving average price of $93.50. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12.

Thomson Reuters (NASDAQ:TRI) last posted its earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Analysts expect that Thomson Reuters Corp will post 4.48 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

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

About Thomson Reuters

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.