Nexus Investment Management Inc. cut its stake in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 457,425 shares of the business services provider’s stock after selling 2,275 shares during the period. Thomson Reuters Corp accounts for about 3.4% of Nexus Investment Management Inc.’s portfolio, making the stock its 11th largest position. Nexus Investment Management Inc. owned about 0.06% of Thomson Reuters Corp worth $21,154,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in TRI. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Thomson Reuters Corp by 9.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,776 shares of the business services provider’s stock valued at $165,000 after buying an additional 337 shares during the period. Laurel Wealth Advisors Inc. purchased a new position in shares of Thomson Reuters Corp during the first quarter valued at approximately $216,000. Atria Investments LLC purchased a new position in shares of Thomson Reuters Corp during the second quarter valued at approximately $252,000. Private Advisor Group LLC raised its position in shares of 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 valued at $236,000 after buying an additional 489 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of 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 period. 26.45% of the stock is currently owned by hedge funds and other institutional investors.

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

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. Thomson Reuters Corp had a return on equity of 13.74% and a net margin of 26.81%. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. Analysts expect that Thomson Reuters Corp will post $2.43 earnings per share for the current fiscal year.

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.38 dividend on an annualized basis and a yield of 2.92%. Thomson Reuters Corp’s dividend payout ratio (DPR) is presently 33.91%.

Thomson Reuters Corp declared that its board has approved a share repurchase plan 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. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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Several brokerages have recently commented on TRI. Piper Jaffray Companies reiterated a “hold” rating and set a $50.00 price objective on shares of Thomson Reuters Corp in a research report on Thursday. Zacks Investment Research upgraded Thomson Reuters Corp from a “sell” rating to a “hold” rating and set a $53.00 price objective on the stock in a research report on Thursday. Scotiabank increased their price objective on Thomson Reuters Corp from $45.00 to $47.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada increased their price objective on Thomson Reuters Corp from $45.00 to $47.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 2nd. Finally, Deutsche Bank AG increased their price objective on Thomson Reuters Corp from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average 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.

Institutional Ownership by Quarter for Thomson Reuters Corp (NYSE:TRI)

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