Thomson Reuters Corp (TRI) Shares Sold by NGAM Advisors L.P.
NGAM Advisors L.P. cut its stake in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 24.4% during the second quarter, Holdings Channel reports. The fund owned 35,005 shares of the business services provider’s stock after selling 11,318 shares during the period. NGAM Advisors L.P.’s holdings in Thomson Reuters Corp were worth $1,620,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. UBS Asset Management Americas Inc. increased its position in Thomson Reuters Corp by 11.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 115,689 shares of the business services provider’s stock valued at $5,065,000 after buying an additional 11,488 shares during the last quarter. Teachers Advisors LLC increased its position in Thomson Reuters Corp by 6.7% in the fourth quarter. Teachers Advisors LLC now owns 321,548 shares of the business services provider’s stock valued at $14,077,000 after buying an additional 20,226 shares during the last quarter. Creative Planning increased its position 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 valued at $248,000 after buying an additional 279 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Thomson Reuters Corp by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 103,601 shares of the business services provider’s stock valued at $4,473,000 after buying an additional 1,000 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co increased its position in 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. Institutional investors and hedge funds own 26.54% of the company’s stock.
Shares of Thomson Reuters Corp (TRI) opened at 46.54 on Tuesday. The company has a market cap of $33.26 billion, a PE ratio of 11.43 and a beta of 0.75. Thomson Reuters Corp has a one year low of $39.23 and a one year high of $48.57. The firm’s 50-day moving average is $46.35 and its 200-day moving average is $44.49.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.09. The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Thomson Reuters Corp had a net margin of 26.81% and a return on equity of 13.64%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. On average, equities analysts anticipate that Thomson Reuters Corp will post $2.44 EPS for the current year.
The firm 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 dividend of $0.345 per share. 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 is presently 33.91%.
Thomson Reuters Corp declared that its Board of Directors has authorized a stock buyback program on Wednesday, May 24th that allows the company to buyback 36,000,000 outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
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TRI has been the topic of several research analyst reports. National Bank Financial upgraded Thomson Reuters Corp from a “sector perform market weight” rating to an “outperform market weight” rating in a research note on Monday, April 17th. Zacks Investment Research upgraded Thomson Reuters Corp from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Thursday, April 20th. Berenberg Bank initiated coverage on Thomson Reuters Corp in a research note on Thursday, April 20th. They issued a “sell” rating and a $37.00 price objective on the stock. Royal Bank Of Canada reiterated a “hold” rating on shares of Thomson Reuters Corp in a research note on Wednesday, April 26th. Finally, Canaccord Genuity downgraded Thomson Reuters Corp from a “buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The company presently 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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