Beach Investment Counsel Inc. PA purchased a new stake in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,379 shares of the business services provider’s stock, valued at approximately $203,000.

Other hedge funds also recently bought and sold shares of the company. UBS Asset Management Americas Inc. raised its stake 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 in the last quarter. Teachers Advisors LLC raised its stake 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 in the last quarter. Manning & Napier Advisors LLC raised its stake in Thomson Reuters Corp by 6.0% in the first quarter. Manning & Napier Advisors LLC now owns 94,340 shares of the business services provider’s stock valued at $4,077,000 after buying an additional 5,306 shares in the last quarter. Creative Planning raised 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 valued at $248,000 after buying an additional 279 shares in the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services raised its stake in Thomson Reuters Corp by 8.2% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 102,592 shares of the business services provider’s stock valued at $4,435,000 after buying an additional 7,800 shares in the last quarter. Institutional investors own 26.55% of the company’s stock.

Shares of Thomson Reuters Corp (NYSE:TRI) opened at 47.30 on Monday. Thomson Reuters Corp has a 12 month low of $39.23 and a 12 month high of $48.57. The firm has a market capitalization of $34.10 billion, a price-to-earnings ratio of 11.62 and a beta of 0.75. The stock’s 50 day moving average is $46.05 and its 200 day moving average is $44.34.

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the firm earned $0.50 earnings per share. Thomson Reuters Corp’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts forecast that Thomson Reuters Corp will post $2.43 earnings per share for the current fiscal year.

Thomson Reuters Corp declared that its board has approved a share repurchase 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 repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 17th will be given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, August 15th. Thomson Reuters Corp’s dividend payout ratio is 33.91%.

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TRI has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Thomson Reuters Corp from a “hold” rating to a “sell” rating in a research report on Thursday, April 13th. National Bank Financial upgraded shares of Thomson Reuters Corp from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Monday, April 17th. Berenberg Bank initiated coverage on shares of Thomson Reuters Corp in a research report on Thursday, April 20th. They issued a “sell” rating and a $37.00 price target on the stock. Royal Bank Of Canada restated a “hold” rating on shares of Thomson Reuters Corp in a research report on Wednesday, April 26th. Finally, Canaccord Genuity lowered shares of Thomson Reuters Corp from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a research report on Monday, May 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target 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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Institutional Ownership by Quarter for Thomson Reuters Corp (NYSE:TRI)

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