Westpac Banking Corp trimmed its holdings in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 46.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 20,588 shares of the business services provider’s stock after selling 18,100 shares during the period. Westpac Banking Corp’s holdings in Thomson Reuters Corp were worth $1,236,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Community Financial Services Group LLC raised 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 acquiring an additional 220 shares in the last quarter. Airain ltd raised its stake in shares of Thomson Reuters Corp by 238.3% in the second quarter. Airain ltd now owns 74,466 shares of the business services provider’s stock valued at $3,447,000 after acquiring an additional 52,455 shares in the last quarter. Forsta AP Fonden raised its stake in shares of Thomson Reuters Corp by 11.5% in the second quarter. Forsta AP Fonden now owns 143,175 shares of the business services provider’s stock valued at $6,619,000 after acquiring an additional 14,800 shares in the last quarter. Wellington Management Group LLP raised 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 acquiring an additional 52,932 shares in the last quarter. Finally, Schroder Investment Management Group raised 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 acquiring an additional 4,931 shares in the last quarter. Institutional investors own 26.16% of the company’s stock.
Shares of Thomson Reuters Corp (NYSE TRI) opened at 45.54 on Friday. Thomson Reuters Corp has a 1-year low of $39.23 and a 1-year high of $48.57. The firm has a 50-day moving average of $46.10 and a 200 day moving average of $44.71. The stock has a market capitalization of $32.55 billion, a PE ratio of 11.18 and a beta of 0.75.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last released 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 net margin of 26.81% and a return on equity of 13.64%. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, equities 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 allows the company to repurchase 36,000,000 outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 17th were issued a $0.345 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $1.38 annualized dividend and a dividend yield of 3.03%. Thomson Reuters Corp’s dividend payout ratio is currently 33.91%.
A number of analysts have weighed in on TRI shares. Zacks Investment Research lowered Thomson Reuters Corp from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. Deutsche Bank AG raised Thomson Reuters Corp from a “hold” rating to a “buy” rating and raised their price target for the stock from $44.00 to $50.00 in a report on Monday, June 19th. BidaskClub raised Thomson Reuters Corp from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Scotiabank lifted their price objective on Thomson Reuters Corp from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Wednesday, August 2nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $49.00 price objective (up previously from $48.00) on shares of Thomson Reuters Corp in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $50.36.
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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.
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