Point72 Asset Management L.P. Purchases New Position in Thomson Reuters Corp (TRI)
Point72 Asset Management L.P. bought a new position in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 902,850 shares of the business services provider’s stock, valued at approximately $41,447,000. Point72 Asset Management L.P. owned 0.13% of Thomson Reuters as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. ETF Managers Group LLC bought a new position in Thomson Reuters in the 2nd quarter worth about $127,000. Omnia Family Wealth LLC boosted its stake in Thomson Reuters by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 3,538 shares of the business services provider’s stock worth $164,000 after purchasing an additional 10 shares during the period. Beach Investment Management LLC. bought a new position in Thomson Reuters in the 2nd quarter worth about $203,000. Boothbay Fund Management LLC bought a new position in Thomson Reuters in the 3rd quarter worth about $216,000. Finally, SG Americas Securities LLC boosted its stake in Thomson Reuters by 44.0% in the 2nd quarter. SG Americas Securities LLC now owns 4,900 shares of the business services provider’s stock worth $227,000 after purchasing an additional 1,497 shares during the period. Institutional investors and hedge funds own 24.56% of the company’s stock.
Several research analysts have commented on the company. Morgan Stanley raised their target price on Thomson Reuters from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. Credit Suisse Group assumed coverage on Thomson Reuters in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $52.00 target price for the company. Scotiabank upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $47.00 to $55.00 in a research note on Tuesday, October 17th. Zacks Investment Research upgraded Thomson Reuters from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Wednesday, November 1st. Finally, Canaccord Genuity reiterated a “hold” rating and set a $46.00 price target on shares of Thomson Reuters in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Thomson Reuters presently has an average rating of “Hold” and a consensus target price of $51.23.
Shares of Thomson Reuters Corp (TRI) traded up $0.09 on Tuesday, hitting $44.35. The stock had a trading volume of 466,000 shares, compared to its average volume of 1,123,650. The company has a market cap of $31,493.63, a P/E ratio of 17.63, a PEG ratio of 2.16 and a beta of 0.71. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.41. Thomson Reuters Corp has a 12-month low of $42.22 and a 12-month high of $48.61.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.10. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Thomson Reuters had a return on equity of 13.91% and a net margin of 27.20%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS. equities research analysts expect that Thomson Reuters Corp will post 2.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 16th will be issued a dividend of $0.345 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.11%. Thomson Reuters’s dividend payout ratio is 33.09%.
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Thomson Reuters Profile
Thomson Reuters Corp (Thomson Reuters) is a Canada-based provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk unit is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.
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