Marshall Wace North America L.P. Takes Position in Thomson Reuters Corp (TRI)
Marshall Wace North America L.P. purchased a new stake in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 109,136 shares of the business services provider’s stock, valued at approximately $5,020,000.
A number of other large investors also recently bought and sold shares of the stock. Huntington National Bank bought a new stake in Thomson Reuters Corp during the second quarter valued at $106,000. Beach Investment Management LLC. acquired a new stake in Thomson Reuters Corp during the second quarter valued at approximately $203,000. Laurel Wealth Advisors Inc. acquired a new stake in Thomson Reuters Corp during the first quarter valued at approximately $216,000. SG Americas Securities LLC increased its stake in Thomson Reuters Corp by 44.0% in the second quarter. SG Americas Securities LLC now owns 4,900 shares of the business services provider’s stock valued at $227,000 after buying an additional 1,497 shares during the last quarter. Finally, Hartford Investment Management Co. acquired a new stake in Thomson Reuters Corp during the second quarter valued at approximately $234,000. 26.16% of the stock is owned by hedge funds and other institutional investors.
Thomson Reuters Corp (NYSE TRI) opened at 45.22 on Wednesday. The firm has a 50-day moving average of $46.26 and a 200-day moving average of $44.57. The stock has a market capitalization of $32.32 billion, a PE ratio of 11.11 and a beta of 0.75. Thomson Reuters Corp has a 1-year low of $39.23 and a 1-year high of $48.57.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.60 earnings per share (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 quarter in the prior year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts expect that Thomson Reuters Corp will post $2.44 EPS for the current fiscal year.
Thomson Reuters Corp declared that its board has initiated a stock buyback plan on Wednesday, May 24th that authorizes the company to buyback 36,000,000 outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.345 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.38 annualized dividend and a dividend yield of 3.05%. Thomson Reuters Corp’s dividend payout ratio (DPR) is currently 33.91%.
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Several equities research analysts have recently commented on TRI shares. BidaskClub raised shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Deutsche Bank AG raised shares of Thomson Reuters Corp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $50.00 in a research report on Monday, June 19th. Morgan Stanley reissued an “equal weight” rating and set a $49.00 target price (up from $48.00) on shares of Thomson Reuters Corp in a research report on Tuesday, July 18th. Canaccord Genuity set a $47.00 target price on shares of Thomson Reuters Corp and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada set a $45.00 target price on shares of Thomson Reuters Corp and gave the stock a “hold” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. Thomson Reuters Corp currently has a consensus rating of “Hold” and an average 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.
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