PCJ Investment Counsel Ltd. Reduces Position in Thomson Reuters Co. $TRI

by · The Cerbat Gem

PCJ Investment Counsel Ltd. lessened its holdings in shares of Thomson Reuters Co. (NYSE:TRI – Free Report) (TSE:TRI) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,560 shares of the business services provider’s stock after selling 386 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Thomson Reuters were worth $1,521,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. grew its holdings in Thomson Reuters by 772.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider’s stock valued at $27,000 after buying an additional 139 shares in the last quarter. Curio Wealth LLC boosted its position in shares of Thomson Reuters by 16,200.0% during the 2nd quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 162 shares during the last quarter. Westside Investment Management Inc. purchased a new stake in shares of Thomson Reuters in the second quarter valued at about $34,000. Ameritas Advisory Services LLC acquired a new stake in Thomson Reuters during the second quarter worth about $37,000. Finally, SBI Securities Co. Ltd. raised its stake in Thomson Reuters by 41.3% during the first quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider’s stock worth $41,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Down 1.0%

Shares of NYSE:TRI opened at $137.57 on Friday. The firm’s 50-day moving average is $160.16 and its two-hundred day moving average is $180.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. Thomson Reuters Co. has a 1 year low of $136.28 and a 1 year high of $218.42. The firm has a market capitalization of $61.45 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74.

Thomson Reuters (NYSE:TRI – Get Free Report) (TSE:TRI) last announced its earnings results on Tuesday, November 4th. The business services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.04. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.78 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. Thomson Reuters has set its FY 2025 guidance at EPS. Analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a dividend of $0.595 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.7%. Thomson Reuters’s payout ratio is currently 61.18%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TRI shares. Royal Bank Of Canada dropped their price target on shares of Thomson Reuters from $208.00 to $182.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 29th. CIBC set a $198.00 price objective on Thomson Reuters and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Canaccord Genuity Group set a $174.00 target price on Thomson Reuters and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lowered their price target on Thomson Reuters from $178.00 to $160.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, TD Securities raised shares of Thomson Reuters from a “hold” rating to a “buy” rating and boosted their price target for the company from $275.00 to $285.00 in a research note on Thursday, August 28th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $195.27.

Read Our Latest Report on Thomson Reuters

Thomson Reuters Company Profile

(Free Report)

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.

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