Thomson Reuters Corp (NYSE:TRI) Position Reduced by Creative Planning

Creative Planning lowered its stake in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 23.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,419 shares of the business services provider’s stock after selling 1,324 shares during the period. Creative Planning’s holdings in Thomson Reuters Corp were worth $205,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. NN Investment Partners Holdings N.V. raised its position in Thomson Reuters Corp by 919.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 20,691 shares of the business services provider’s stock valued at $958,000 after buying an additional 18,662 shares during the period. Atria Investments LLC bought a new position in Thomson Reuters Corp during the second quarter valued at $252,000. Country Club Trust Company n.a. raised its position in Thomson Reuters Corp by 1.5% in the second quarter. Country Club Trust Company n.a. now owns 168,449 shares of the business services provider’s stock worth $7,797,000 after buying an additional 2,431 shares during the last quarter. Capital One National Association acquired a new position in Thomson Reuters Corp during the second quarter worth approximately $618,000. Finally, Fox Run Management L.L.C. acquired a new position in Thomson Reuters Corp during the second quarter worth approximately $704,000. Institutional investors own 26.54% of the company’s stock.

Thomson Reuters Corp (NYSE TRI) opened at 45.85 on Friday. The company’s 50-day moving average price is $46.30 and its 200 day moving average price is $44.53. Thomson Reuters Corp has a 52 week low of $39.23 and a 52 week 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.

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, August 1st. The business services provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.09. Thomson Reuters Corp had a net margin of 26.81% and a return on equity of 13.64%. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts predict that Thomson Reuters Corp will post $2.44 EPS for the current year.

Thomson Reuters Corp declared that its Board of Directors has approved a stock buyback program on Wednesday, May 24th that allows the company to buyback 36,000,000 outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

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

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A number of equities analysts have recently commented on TRI shares. Zacks Investment Research lowered Thomson Reuters Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Royal Bank Of Canada reiterated a “hold” rating on shares of Thomson Reuters Corp in a research note on Wednesday, April 26th. Scotiabank lifted their price objective on Thomson Reuters Corp from $43.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Monday, May 1st. Deutsche Bank AG lifted their price objective on Thomson Reuters Corp from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub lowered Thomson Reuters Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. Thomson Reuters Corp presently has an average rating of “Hold” and a consensus target price of $49.83.

About Thomson Reuters Corp

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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