The Manufacturers Life Insurance Company Sells 246,449 Shares of Thomson Reuters Corp $TRI

The Manufacturers Life Insurance Company decreased its position in shares of Thomson Reuters Corp (NASDAQ:TRI) by 16.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,253,916 shares of the company’s stock after selling 246,449 shares during the period. The Manufacturers Life Insurance Company’s holdings in Thomson Reuters were worth $102,215,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. TLT Family Holdco ULC bought a new stake in Thomson Reuters during the second quarter worth $865,442,000. SEG Family Corp. bought a new position in shares of Thomson Reuters in the 2nd quarter valued at $659,930,000. Invesco Ltd. increased its stake in shares of Thomson Reuters by 461.1% in the 3rd quarter. Invesco Ltd. now owns 2,253,243 shares of the company’s stock valued at $349,996,000 after purchasing an additional 1,851,677 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Thomson Reuters during the 2nd quarter worth $107,223,000. Finally, Bank of America Corp DE bought a new stake in shares of Thomson Reuters during the 2nd quarter worth $104,104,000. 17.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on TRI. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a research note on Thursday, August 6th. Wells Fargo & Company set a $85.00 price target on shares of Thomson Reuters and gave the company an “equal weight” rating in a research note on Tuesday, June 30th. Barclays lowered their price objective on shares of Thomson Reuters from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday. Royal Bank Of Canada increased their price objective on shares of Thomson Reuters from $121.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Scotiabank restated a “sector outperform” rating and issued a $135.00 target price on shares of Thomson Reuters in a research report 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.57.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $97.35 on Friday. The stock has a 50-day moving average price of $99.67 and a two-hundred day moving average price of $93.53. Thomson Reuters Corp has a 12 month low of $76.28 and a 12 month high of $173.79. The company has a market capitalization of $42.41 billion, a PE ratio of 25.92, a P/E/G ratio of 1.83 and a beta of 0.74. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping 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 analysts’ expectations of $1.89 billion. During the same period in the previous year, the business posted $0.87 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts expect that Thomson Reuters Corp will post 4.48 EPS for the current year.

Thomson Reuters Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were issued a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Thomson Reuters’s payout ratio is presently 69.68%.

About Thomson Reuters

Thomson Reuters Corporation is a global provider of information, software, and technology solutions for professionals and institutions. Its products and services support legal professionals, corporations, tax and accounting firms, governments, and media organizations, helping customers manage regulatory requirements, research information, analyze data, and improve workflow efficiency.

The company’s offerings include legal research and practice-management solutions, tax and accounting software, corporate compliance and risk-management tools, and products designed for government and regulatory users.