Cidel Asset Management Inc. Has $6.38 Million Stock Holdings in Thomson Reuters Corp $TRI

Cidel Asset Management Inc. trimmed its position in Thomson Reuters Corp (NASDAQ:TRI) by 63.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,285 shares of the company’s stock after selling 85,505 shares during the period. Cidel Asset Management Inc.’s holdings in Thomson Reuters were worth $6,380,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TRI. AGF Management Ltd. lifted its holdings in shares of Thomson Reuters by 186.8% in the 3rd quarter. AGF Management Ltd. now owns 870,312 shares of the company’s stock worth $135,592,000 after purchasing an additional 566,908 shares in the last quarter. Intact Investment Management Inc. bought a new stake in Thomson Reuters during the 3rd quarter valued at $3,485,000. Profund Advisors LLC bought a new stake in Thomson Reuters during the 3rd quarter valued at $5,061,000. JCIC Asset Management Inc. acquired a new position in Thomson Reuters during the third quarter worth $4,015,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in Thomson Reuters during the third quarter worth $10,117,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Stock Performance

NASDAQ TRI opened at $90.19 on Monday. The company has a fifty day moving average price of $95.97 and a 200-day moving average price of $125.13. The firm has a market cap of $40.14 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 1.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.64 and a quick ratio of 0.64. Thomson Reuters Corp has a 1 year low of $79.71 and a 1 year high of $218.42.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings results on Thursday, February 5th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. Thomson Reuters had a net margin of 20.09% and a return on equity of 14.51%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.01 billion.

Thomson Reuters Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, February 17th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.60. Thomson Reuters’s dividend payout ratio (DPR) is presently 78.68%.

Analyst Ratings Changes

TRI has been the subject of a number of analyst reports. TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a report on Friday, February 6th. BMO Capital Markets set a $165.00 price target on shares of Thomson Reuters in a research report on Friday, February 6th. Morgan Stanley set a $116.00 price target on Thomson Reuters in a research note on Friday, February 6th. The Goldman Sachs Group set a $111.00 price objective on Thomson Reuters and gave the stock a “buy” rating in a report on Saturday, February 7th. Finally, Scotiabank reissued an “outperform” rating and issued a $156.00 price objective (down from $189.00) on shares of Thomson Reuters in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Thomson Reuters presently has an average rating of “Moderate Buy” and an average price target of $147.96.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.