Thomson Reuters Corp (TRI) Shares Sold by Seven Eight Capital LP
Seven Eight Capital LP lowered its holdings in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 77.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,662 shares of the business services provider’s stock after selling 15,600 shares during the period. Seven Eight Capital LP’s holdings in Thomson Reuters Corp were worth $216,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of TRI. UBS Asset Management Americas Inc. grew its holdings in Thomson Reuters Corp by 375.6% during the first quarter. UBS Asset Management Americas Inc. now owns 550,176 shares of the business services provider’s stock worth $23,784,000 after purchasing an additional 434,487 shares during the period. Meadow Creek Investment Management LLC grew its holdings in Thomson Reuters Corp by 252.4% during the first quarter. Meadow Creek Investment Management LLC now owns 5,808 shares of the business services provider’s stock worth $251,000 after purchasing an additional 4,160 shares during the period. Engineers Gate Manager LP bought a new position in Thomson Reuters Corp during the first quarter worth about $350,000. Ameriprise Financial Inc. grew its holdings in Thomson Reuters Corp by 7.0% during the first quarter. Ameriprise Financial Inc. now owns 35,514 shares of the business services provider’s stock worth $1,535,000 after purchasing an additional 2,312 shares during the period. Finally, Parametric Portfolio Associates LLC grew its holdings in Thomson Reuters Corp by 31.2% during the first quarter. Parametric Portfolio Associates LLC now owns 379,988 shares of the business services provider’s stock worth $16,427,000 after purchasing an additional 90,278 shares during the period. Institutional investors and hedge funds own 26.15% of the company’s stock.
Shares of Thomson Reuters Corp (TRI) opened at 45.42 on Tuesday. The company has a market cap of $32.46 billion, a PE ratio of 11.15 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 stock’s 50 day moving average price is $46.08 and its 200-day moving average price is $44.76.
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 (EPS) for the quarter, topping 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 company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the business posted $0.50 EPS. Thomson Reuters Corp’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts expect that Thomson Reuters Corp will post $2.44 EPS for the current year.
Thomson Reuters Corp announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 24th that authorizes the company to buyback 36,000,000 shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 17th were paid a dividend of $0.345 per share. The ex-dividend date was Tuesday, August 15th. This represents a $1.38 annualized dividend and a dividend yield of 3.04%. Thomson Reuters Corp’s payout ratio is currently 33.91%.
A number of research firms recently commented on TRI. Piper Jaffray Companies reiterated a “hold” rating and set a $50.00 price target on shares of Thomson Reuters Corp in a report on Tuesday. TD Securities upgraded Thomson Reuters Corp from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Zacks Investment Research upgraded Thomson Reuters Corp from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Tuesday, September 5th. Scotiabank lifted their price target on Thomson Reuters Corp from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada lifted their price target on Thomson Reuters Corp from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $50.36.
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About Thomson Reuters Corp
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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