Cornerstone Capital Management Holdings LLC. Sells 1,979 Shares of Thomson Reuters Corp (TRI)
Cornerstone Capital Management Holdings LLC. lowered its stake in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 5.4% during the first quarter, Holdings Channel reports. The fund owned 34,835 shares of the business services provider’s stock after selling 1,979 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Thomson Reuters Corp were worth $1,505,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of TRI. Tyers Asset Management LLC acquired a new position in shares of Thomson Reuters Corp during the fourth quarter valued at about $126,000. Flinton Capital Management LLC purchased a new stake in Thomson Reuters Corp during the fourth quarter valued at approximately $153,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Thomson Reuters Corp by 9.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,776 shares of the business services provider’s stock valued at $165,000 after buying an additional 337 shares during the last quarter. Keybank National Association OH purchased a new stake in Thomson Reuters Corp during the fourth quarter valued at approximately $208,000. Finally, Bessemer Group Inc. raised its stake in Thomson Reuters Corp by 13.7% in the fourth quarter. Bessemer Group Inc. now owns 4,810 shares of the business services provider’s stock valued at $210,000 after buying an additional 580 shares during the last quarter. Institutional investors own 26.99% of the company’s stock.
Thomson Reuters Corp (NYSE TRI) opened at 45.78 on Friday. The company has a 50 day moving average of $44.11 and a 200 day moving average of $43.91. The stock has a market capitalization of $33.05 billion, a price-to-earnings ratio of 10.83 and a beta of 0.76. Thomson Reuters Corp has a 12 month low of $38.23 and a 12 month high of $46.44.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Friday, April 28th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.10. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.80 billion. Thomson Reuters Corp had a return on equity of 13.37% and a net margin of 28.14%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 earnings per share. On average, equities analysts predict that Thomson Reuters Corp will post $2.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, May 18th were issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, May 16th. Thomson Reuters Corp’s dividend payout ratio (DPR) is 32.47%.
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Several analysts have commented on TRI shares. Zacks Investment Research raised shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Thursday, April 20th. Canaccord Genuity lowered shares of Thomson Reuters Corp from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a research report on Monday, May 1st. Royal Bank Of Canada reissued a “hold” rating on shares of Thomson Reuters Corp in a research report on Wednesday, April 26th. Macquarie raised shares of Thomson Reuters Corp from a “neutral” rating to an “outperform” rating in a research report on Thursday. Finally, BMO Capital Markets increased their price target on shares of Thomson Reuters Corp from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $47.78.
Thomson Reuters Corp Company Profile
Thomson Reuters Corporation (Thomson Reuters) is a 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 segment 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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