The Manufacturers Life Insurance Company Takes $102.22 Million Position in Thomson Reuters Corp $TRI

The Manufacturers Life Insurance Company bought a new position in Thomson Reuters Corp (NASDAQ:TRI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,253,916 shares of the company’s stock, valued at approximately $102,215,000. The Manufacturers Life Insurance Company owned about 0.29% of Thomson Reuters at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Thomson Reuters by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company’s stock worth $762,320,000 after acquiring an additional 85,684 shares during the period. Bank of New York Mellon Corp lifted its holdings in Thomson Reuters by 10.5% in the fourth quarter. Bank of New York Mellon Corp now owns 493,071 shares of the company’s stock valued at $65,031,000 after acquiring an additional 46,680 shares during the period. Alberta Investment Management Corp purchased a new position in Thomson Reuters in the second quarter worth about $38,770,000. Benjamin Edwards Inc. boosted its position in Thomson Reuters by 43.3% in the fourth quarter. Benjamin Edwards Inc. now owns 291,641 shares of the company’s stock worth $38,541,000 after purchasing an additional 88,085 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in Thomson Reuters by 56.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 359,050 shares of the company’s stock worth $47,452,000 after purchasing an additional 128,835 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Scotia reduced their price target on shares of Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 6th. Barclays restated an “overweight” rating and set a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Royal Bank Of Canada increased their price target on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group dropped their price target on shares of Thomson Reuters from $134.00 to $132.50 and set a “buy” rating on the stock in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.83.

Thomson Reuters Stock Performance

NASDAQ TRI opened at $104.38 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12. Thomson Reuters Corp has a twelve month low of $76.28 and a twelve month high of $180.00. The business has a 50-day moving average price of $94.11 and a 200-day moving average price of $92.17. The firm has a market cap of $45.47 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 1.59 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI) last issued its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.03. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company earned $0.87 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts predict that Thomson Reuters Corp will post 4.45 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Thomson Reuters’s dividend payout ratio (DPR) is 69.68%.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real?time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.