Korea Investment CORP lowered its position in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 22.6% during the second quarter, Holdings Channel reports. The firm owned 142,129 shares of the business services provider’s stock after selling 41,515 shares during the period. Korea Investment CORP’s holdings in Thomson Reuters Corp were worth $6,571,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. UBS Asset Management Americas Inc. increased its stake in shares of 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 worth $5,065,000 after buying an additional 11,488 shares during the period. Teachers Advisors LLC increased its stake in shares of 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 worth $14,077,000 after buying an additional 20,226 shares during the period. Creative Planning increased its stake in shares of 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 during the period. Gulf International Bank UK Ltd increased its stake in shares of 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 worth $4,473,000 after buying an additional 1,000 shares during the period. Finally, Capstone Asset Management Co. increased its stake in shares of Thomson Reuters Corp by 9.5% in the first quarter. Capstone Asset Management Co. now owns 188,058 shares of the business services provider’s stock worth $8,130,000 after buying an additional 16,310 shares during the period. Hedge funds and other institutional investors own 26.55% of the company’s stock.

Thomson Reuters Corp (NYSE:TRI) opened at 46.48 on Friday. The stock has a market capitalization of $33.22 billion, a PE ratio of 11.41 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 company’s 50 day moving average price is $46.34 and its 200-day moving average price is $44.48.

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. Analysts expect that Thomson Reuters Corp will post $2.44 earnings per share for the current year.

Thomson Reuters Corp declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 24th that permits the company to buyback 36,000,000 shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 17th will be paid a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Tuesday, August 15th. Thomson Reuters Corp’s payout ratio is presently 33.91%.

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A number of analysts have recently issued reports on TRI shares. Zacks Investment Research downgraded Thomson Reuters Corp from a “hold” rating to a “sell” rating in a research report on Thursday, April 13th. National Bank Financial upgraded 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 started coverage on Thomson Reuters Corp in a research report on Thursday, April 20th. They set a “sell” rating and a $37.00 price target for the company. Royal Bank Of Canada reiterated a “hold” rating on shares of Thomson Reuters Corp in a research report 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 target for the company. in a research report on Monday, May 1st. One investment 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. The company has an average rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for Thomson Reuters Corp (NYSE:TRI)

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