Trexquant Investment LP Takes Position in Thomson Reuters Corp (TRI)
Trexquant Investment LP acquired a new position in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,661 shares of the business services provider’s stock, valued at approximately $725,000.
Several other large investors have also made changes to their positions in the stock. Huntington National Bank acquired a new stake in shares of Thomson Reuters Corp during the second quarter worth approximately $106,000. Beach Investment Management LLC. acquired a new stake in shares of Thomson Reuters Corp during the second quarter worth approximately $203,000. Laurel Wealth Advisors Inc. purchased a new stake in Thomson Reuters Corp during the first quarter worth about $216,000. Hartford Investment Management Co. purchased a new stake in Thomson Reuters Corp during the second quarter worth about $234,000. Finally, Private Advisor Group LLC increased its stake in Thomson Reuters Corp by 9.8% in the first quarter. Private Advisor Group LLC now owns 5,490 shares of the business services provider’s stock worth $236,000 after buying an additional 489 shares during the period. 26.55% of the stock is owned by institutional investors and hedge funds.
Thomson Reuters Corp (TRI) opened at 46.48 on Friday. Thomson Reuters Corp has a 52 week low of $39.23 and a 52 week high of $48.57. The firm has a market cap of $33.22 billion, a PE ratio of 11.41 and a beta of 0.75. The firm’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 posted its earnings results on Tuesday, August 1st. The business services provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.09. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.78 billion. Thomson Reuters Corp had a net margin of 26.81% and a return on equity of 13.64%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. On average, analysts forecast that Thomson Reuters Corp will post $2.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 17th will be given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Tuesday, August 15th. Thomson Reuters Corp’s payout ratio is 33.91%.
Thomson Reuters Corp declared that its board has approved 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 repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Thomson Reuters Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada set a $45.00 price target on Thomson Reuters Corp and gave the company a “hold” rating in a research report on Thursday, July 27th. Macquarie raised Thomson Reuters Corp from a “neutral” rating to an “outperform” rating in a research report on Thursday, June 15th. National Bank Financial raised Thomson Reuters Corp from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Monday, April 17th. Finally, BMO Capital Markets boosted their price target on Thomson Reuters Corp from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, May 2nd. 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 a consensus target price 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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