BB&T Securities LLC reduced its stake in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 282,819 shares of the business services provider’s stock after selling 2,804 shares during the period. BB&T Securities LLC’s holdings in Thomson Reuters Corp were worth $13,092,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Community Financial Services Group LLC increased its position 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 last quarter. Creative Planning increased its position in shares of Thomson Reuters Corp by 5.1% in the first quarter. Creative Planning now owns 5,743 shares of the business services provider’s stock valued at $248,000 after buying an additional 279 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased 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 during the last quarter. Bank of Stockton increased its position in shares of Thomson Reuters Corp by 4.8% in the second quarter. Bank of Stockton now owns 8,110 shares of the business services provider’s stock valued at $374,000 after buying an additional 375 shares during the last quarter. Finally, World Asset Management Inc increased its position in shares of Thomson Reuters Corp by 0.8% in the first quarter. World Asset Management Inc now owns 52,492 shares of the business services provider’s stock valued at $2,269,000 after buying an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 26.54% of the company’s stock.
Shares of Thomson Reuters Corp (TRI) opened at 45.85 on Friday. Thomson Reuters Corp has a 52 week low of $39.23 and a 52 week high of $48.57. The firm has a market capitalization of $32.77 billion, a PE 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 announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.60 EPS for the quarter, beating the Zacks’ 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 company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the company earned $0.50 EPS. Thomson Reuters Corp’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that Thomson Reuters Corp will post $2.44 EPS for the current fiscal year.
Thomson Reuters Corp declared that its Board of Directors has approved a share 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. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis 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 33.91%.
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Several brokerages have issued reports on TRI. Zacks Investment Research downgraded Thomson Reuters Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada set a $45.00 target price on Thomson Reuters Corp and gave the stock a “hold” rating in a research report on Thursday, July 27th. BMO Capital Markets boosted their target price on Thomson Reuters Corp from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 2nd. Macquarie upgraded Thomson Reuters Corp from a “neutral” rating to an “outperform” rating in a research report on Thursday, June 15th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $50.00 target price on shares of Thomson Reuters Corp in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus 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.
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