Legal & General Group Plc Sells 124,184 Shares of Thomson Reuters Corp (TRI)

Legal & General Group Plc cut its stake in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 8.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,355,603 shares of the business services provider’s stock after selling 124,184 shares during the period. Legal & General Group Plc owned approximately 0.19% of Thomson Reuters Corp worth $60,162,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. 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 in the last quarter. Creative Planning boosted its stake in Thomson Reuters Corp by 5.1% in the first quarter. Creative Planning now owns 5,743 shares of the business services provider’s stock worth $248,000 after buying an additional 279 shares in the last quarter. Bank of Stockton boosted its stake in 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 worth $374,000 after buying an additional 375 shares in the last quarter. World Asset Management Inc boosted its stake in 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 worth $2,269,000 after buying an additional 405 shares in the last quarter. Finally, Financial Counselors Inc. boosted its stake in Thomson Reuters Corp by 0.9% in the first quarter. Financial Counselors Inc. now owns 55,581 shares of the business services provider’s stock worth $2,403,000 after buying an additional 469 shares in the last quarter. 26.54% of the stock is currently owned by institutional investors.

Thomson Reuters Corp (TRI) opened at 45.75 on Friday. Thomson Reuters Corp has a 12-month low of $39.23 and a 12-month high of $48.57. The company has a market cap of $32.70 billion, a P/E ratio of 11.24 and a beta of 0.75. The firm has a 50-day moving average price of $46.26 and a 200-day moving average price of $44.57.

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the company posted $0.50 earnings per share. The business’s revenue was up .5% on a year-over-year basis. On average, analysts forecast that Thomson Reuters Corp will post $2.44 earnings per share for the current fiscal year.

Thomson Reuters Corp declared that its board has initiated a share buyback program on Wednesday, May 24th that authorizes the company to buyback 36,000,000 outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 17th will be issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend 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 recently commented on the company. Deutsche Bank AG increased their target price 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. Royal Bank Of Canada increased their target price on 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. Scotiabank increased their target price on 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. Zacks Investment Research raised Thomson Reuters Corp from a “sell” rating to a “hold” rating and set a $53.00 target price on the stock in a research note on Thursday, August 3rd. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $50.00 target price on shares of Thomson Reuters Corp in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Thomson Reuters Corp currently has an average rating of “Hold” and a consensus target price of $50.55.

Thomson Reuters Corp Company Profile

Thomson Reuters Corporation (Thomson Reuters) is a Canada-based 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 unit is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.