Thomson Reuters Corp (TRI) Stake Lowered by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA trimmed its holdings in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 99.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,724 shares of the business services provider’s stock after selling 2,308,267 shares during the period. BNP Paribas Arbitrage SA’s holdings in Thomson Reuters were worth $125,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TRI. Beach Investment Management LLC. bought a new stake in shares of Thomson Reuters during the 2nd quarter worth $203,000. SG Americas Securities LLC raised its stake in shares of Thomson Reuters by 44.0% during 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. Addenda Capital Inc. raised its stake in shares of Thomson Reuters by 8.2% during the 2nd quarter. Addenda Capital Inc. now owns 12,900 shares of the business services provider’s stock worth $596,000 after purchasing an additional 980 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of Thomson Reuters during the 2nd quarter worth $5,020,000. Finally, Andra AP fonden raised its stake in shares of Thomson Reuters by 0.5% during the 2nd quarter. Andra AP fonden now owns 264,538 shares of the business services provider’s stock worth $15,883,000 after purchasing an additional 1,238 shares during the period. Institutional investors own 24.56% of the company’s stock.
TRI has been the topic of a number of recent analyst reports. Zacks Investment Research cut Thomson Reuters from a “buy” rating to a “hold” rating in a research note on Saturday, September 2nd. TD Securities upgraded Thomson Reuters from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Piper Jaffray Companies reiterated a “hold” rating and set a $50.00 target price on shares of Thomson Reuters in a research note on Tuesday, September 19th. Macquarie upgraded Thomson Reuters to a “buy” rating and lifted their target price for the stock from $51.00 to $58.00 in a research note on Tuesday, October 3rd. Finally, Berenberg Bank set a $37.00 target price on Thomson Reuters and gave the stock a “sell” rating in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Thomson Reuters presently has a consensus rating of “Hold” and a consensus price target of $51.23.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data 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. Thomson Reuters had a return on equity of 13.91% and a net margin of 27.20%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the business posted $0.54 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. research analysts predict that Thomson Reuters Corp will post 2.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 16th were paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Wednesday, November 15th. Thomson Reuters’s dividend payout ratio is currently 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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