Acadian Asset Management LLC Cuts Stake in Thomson Reuters Corp (TRI)

Acadian Asset Management LLC decreased its position in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 23.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 231,379 shares of the business services provider’s stock after selling 69,921 shares during the period. Acadian Asset Management LLC’s holdings in Thomson Reuters Corp were worth $10,697,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in TRI. DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Thomson Reuters Corp by 6.6% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 5,528 shares of the business services provider’s stock valued at $239,000 after buying an additional 343 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its position in shares of Thomson Reuters Corp by 4.9% in the first quarter. Beutel Goodman & Co Ltd. now owns 5,057,257 shares of the business services provider’s stock valued at $218,332,000 after buying an additional 236,410 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Thomson Reuters Corp by 9.5% in the first quarter. Capstone Asset Management Co. now owns 188,058 shares of the business services provider’s stock valued at $8,130,000 after buying an additional 16,310 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Thomson Reuters Corp by 10.7% in the first quarter. Bank of Montreal Can now owns 8,345,670 shares of the business services provider’s stock valued at $360,784,000 after buying an additional 806,046 shares in the last quarter. Finally, Country Club Trust Company n.a. boosted its position in shares of Thomson Reuters Corp by 1.6% in the first quarter. Country Club Trust Company n.a. now owns 166,018 shares of the business services provider’s stock valued at $7,177,000 after buying an additional 2,597 shares in the last quarter. 26.54% of the stock is currently owned by institutional investors.

Thomson Reuters Corp (TRI) traded down 0.20% during mid-day trading on Friday, hitting $45.85. 1,459,948 shares of the company traded hands. Thomson Reuters Corp has a one year low of $39.23 and a one year high of $48.57. The company has a market capitalization of $32.77 billion, a price-to-earnings ratio of 11.26 and a beta of 0.75. The company’s 50-day moving average price is $46.30 and its 200 day moving average price is $44.53.

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.51 by $0.09. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.78 billion. Thomson Reuters Corp had a return on equity of 13.64% and a net margin of 26.81%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. On average, analysts anticipate that Thomson Reuters Corp will post $2.44 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be issued a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Tuesday, August 15th. Thomson Reuters Corp’s payout ratio is presently 33.91%.

Thomson Reuters Corp announced that its board has approved a stock repurchase plan on Wednesday, May 24th that authorizes the company to repurchase 36,000,000 shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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Several equities analysts have recently issued reports on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Thomson Reuters Corp in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Thomson Reuters Corp from a “sell” rating to a “hold” rating and set a $53.00 price objective on the stock in a research note on Thursday, August 3rd. Scotiabank lifted their price objective on shares of Thomson Reuters Corp from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada lifted their target price on shares of Thomson Reuters Corp from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 2nd. Finally, Deutsche Bank AG lifted their target price on shares of Thomson Reuters Corp from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $49.83.

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.

Institutional Ownership by Quarter for Thomson Reuters Corp (NYSE:TRI)

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