Laurion Capital Management LP Takes $24.93 Million Position in Thomson Reuters Corp (TRI)
Laurion Capital Management LP bought a new position in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 545,808 shares of the business services provider’s stock, valued at approximately $24,933,000. Thomson Reuters makes up about 0.2% of Laurion Capital Management LP’s investment portfolio, making the stock its 21st biggest position. Laurion Capital Management LP owned 0.10% of Thomson Reuters at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in shares of Thomson Reuters in the 3rd quarter worth approximately $190,000. Northern Trust Corp raised its holdings in shares of Thomson Reuters by 4.8% in the 2nd quarter. Northern Trust Corp now owns 516,102 shares of the business services provider’s stock worth $20,809,000 after purchasing an additional 23,457 shares in the last quarter. Thornburg Investment Management Inc. bought a new stake in shares of Thomson Reuters in the 3rd quarter worth approximately $11,786,000. Marathon Trading Investment Management LLC bought a new stake in shares of Thomson Reuters in the 2nd quarter worth approximately $202,000. Finally, Jane Street Group LLC raised its holdings in shares of Thomson Reuters by 83.4% in the 2nd quarter. Jane Street Group LLC now owns 51,973 shares of the business services provider’s stock worth $2,096,000 after purchasing an additional 23,638 shares in the last quarter. Institutional investors and hedge funds own 33.08% of the company’s stock.
A number of research firms have recently issued reports on TRI. National Bank Financial restated a “buy” rating on shares of Thomson Reuters in a report on Wednesday. CIBC restated a “hold” rating and set a $53.00 price target on shares of Thomson Reuters in a report on Wednesday. TD Securities restated a “buy” rating on shares of Thomson Reuters in a report on Wednesday. Royal Bank of Canada boosted their price target on shares of Thomson Reuters from $50.00 to $53.00 in a report on Wednesday. Finally, Zacks Investment Research upgraded shares of Thomson Reuters from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Wednesday, October 17th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $50.55.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.07. Thomson Reuters had a net margin of 16.21% and a return on equity of 6.10%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Thomson Reuters Corp will post 0.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Thursday, November 15th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, November 14th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.35. This represents a $1.40 dividend on an annualized basis and a yield of 2.75%. Thomson Reuters’s payout ratio is presently 55.80%.
Thomson Reuters Company Profile
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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