World Asset Management Inc lowered its position in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 16.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 43,892 shares of the business services provider’s stock after selling 8,600 shares during the period. World Asset Management Inc’s holdings in Thomson Reuters Corp were worth $2,032,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in TRI. Community Financial Services Group LLC boosted its stake in Thomson Reuters Corp by 0.5% in the first quarter. Community Financial Services Group LLC now owns 42,076 shares of the business services provider’s stock worth $1,819,000 after buying an additional 220 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its stake in 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 worth $218,332,000 after buying an additional 236,410 shares during the last quarter. Wellington Management Group LLP boosted its stake in Thomson Reuters Corp by 0.4% in the first quarter. Wellington Management Group LLP now owns 11,896,855 shares of the business services provider’s stock worth $514,297,000 after buying an additional 52,932 shares during the last quarter. Schroder Investment Management Group boosted its stake in Thomson Reuters Corp by 12.6% in the first quarter. Schroder Investment Management Group now owns 44,071 shares of the business services provider’s stock worth $2,482,000 after buying an additional 4,931 shares during the last quarter. Finally, Atria Investments LLC purchased a new stake in Thomson Reuters Corp during the second quarter worth approximately $252,000. Institutional investors own 26.54% of the company’s stock.
Thomson Reuters Corp (NYSE TRI) traded down 0.20% on Friday, hitting $45.85. 1,459,948 shares of the company were exchanged. The stock has a market capitalization of $32.77 billion, a P/E ratio of 11.26 and a beta of 0.75. Thomson Reuters Corp has a 52-week low of $39.23 and a 52-week high of $48.57. The stock’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 posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.09. Thomson Reuters Corp had a return on equity of 13.64% and a net margin of 26.81%. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the company earned $0.50 EPS. The firm’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts anticipate that Thomson Reuters Corp will post $2.44 earnings per share for the current fiscal year.
Thomson Reuters Corp declared that its board has approved a stock buyback plan on Wednesday, May 24th that permits the company to repurchase 36,000,000 shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 17th will be paid a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 3.01%. The ex-dividend date is Tuesday, August 15th. Thomson Reuters Corp’s dividend payout ratio is currently 33.91%.
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A number of equities research analysts have commented on TRI shares. Deutsche Bank AG upgraded shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating and raised their target price for the stock from $44.00 to $50.00 in a research note on Monday, June 19th. BidaskClub upgraded shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Canaccord Genuity cut shares of Thomson Reuters Corp from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research note on Monday, May 1st. Morgan Stanley restated an “equal weight” rating and set a $49.00 target price (up previously from $48.00) on shares of Thomson Reuters Corp in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Thomson Reuters Corp in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus 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.
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