Thomson Reuters Corp (TRI) Position Lessened by M&T Bank Corp
M&T Bank Corp trimmed its holdings in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 4.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,930 shares of the business services provider’s stock after selling 2,330 shares during the quarter. M&T Bank Corp’s holdings in Thomson Reuters Corp were worth $2,266,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Huntington National Bank acquired a new stake in shares of Thomson Reuters Corp during the 2nd quarter worth about $106,000. Omnia Family Wealth LLC boosted its holdings in Thomson Reuters Corp by 0.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 3,538 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 10 shares during the period. Beach Investment Management LLC. purchased a new position in Thomson Reuters Corp during the 2nd quarter valued at about $203,000. SG Americas Securities LLC boosted its holdings in Thomson Reuters Corp by 44.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,900 shares of the business services provider’s stock valued at $227,000 after acquiring an additional 1,497 shares during the period. Finally, Laurel Wealth Advisors Inc. purchased a new position in Thomson Reuters Corp during the 1st quarter valued at about $216,000. 26.15% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on TRI. Scotiabank raised their target price on Thomson Reuters Corp from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada raised their target price on Thomson Reuters Corp from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Wednesday, August 2nd. Deutsche Bank AG raised their target price on Thomson Reuters Corp from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Thomson Reuters Corp from a “sell” rating to a “hold” rating and set a $53.00 target price for the company in a report on Thursday, August 3rd. Finally, Piper Jaffray Companies restated a “hold” rating and set a $50.00 target price on shares of Thomson Reuters Corp in a report on Thursday, August 3rd. One equities research 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. Thomson Reuters Corp presently has a consensus rating of “Hold” and an average price target of $50.36.
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Thomson Reuters Corp (TRI) opened at 45.99 on Thursday. Thomson Reuters Corp has a 52 week low of $39.23 and a 52 week high of $48.57. The stock has a market cap of $32.87 billion, a PE ratio of 11.29 and a beta of 0.75. The stock has a 50 day moving average price of $46.07 and a 200 day moving average price of $44.78.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last posted its earnings results 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 13.64% and a net margin of 26.81%. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts predict that Thomson Reuters Corp will post $2.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 17th were paid a $0.345 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.00%. Thomson Reuters Corp’s dividend payout ratio (DPR) is currently 33.91%.
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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