Candriam Luxembourg S.C.A. raised its stake in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 4.9% during the second quarter, Holdings Channel reports. The firm owned 44,156 shares of the business services provider’s stock after buying an additional 2,046 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Thomson Reuters Corp were worth $2,041,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Community Financial Services Group LLC increased its stake in shares of 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 valued at $1,819,000 after buying an additional 220 shares during the period. Wellington Management Group LLP increased its stake in shares of 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 valued at $514,297,000 after buying an additional 52,932 shares during the period. Schroder Investment Management Group increased its stake in shares of 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 valued at $2,482,000 after buying an additional 4,931 shares during the period. Atria Investments LLC acquired a new stake in shares of Thomson Reuters Corp during the second quarter valued at about $252,000. Finally, American Century Companies Inc. increased its stake in shares of Thomson Reuters Corp by 115.5% in the first quarter. American Century Companies Inc. now owns 429,205 shares of the business services provider’s stock valued at $18,555,000 after buying an additional 229,999 shares during the period. 26.55% of the stock is currently owned by institutional investors.
Thomson Reuters Corp (TRI) opened at 46.48 on Friday. The company’s 50 day moving average is $46.34 and its 200 day moving average is $44.48. Thomson Reuters Corp has a 52 week low of $39.23 and a 52 week high of $48.57. The stock has a market cap of $33.22 billion, a P/E ratio of 11.41 and a beta of 0.75.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last released its earnings results on Tuesday, August 1st. The business services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.09. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.78 billion. Thomson Reuters Corp had a net margin of 26.81% and a return on equity of 13.64%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. Equities analysts predict that Thomson Reuters Corp will post $2.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be given a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Tuesday, August 15th. Thomson Reuters Corp’s dividend payout ratio (DPR) is currently 33.91%.
Thomson Reuters Corp declared that its board has authorized a stock repurchase program on Wednesday, May 24th that permits the company to repurchase 36,000,000 outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
TRI has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Thomson Reuters Corp from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. Deutsche Bank AG raised shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating and upped their price target for the company from $44.00 to $50.00 in a report on Monday, June 19th. Berenberg Bank initiated coverage on shares of Thomson Reuters Corp in a report on Thursday, April 20th. They issued a “sell” rating and a $37.00 price target on the stock. BidaskClub raised shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Canaccord Genuity downgraded shares of Thomson Reuters Corp from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Thomson Reuters Corp currently has a consensus rating of “Hold” and an average price target 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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