The Manufacturers Life Insurance Company Acquires Shares of 1,253,916 Thomson Reuters Corp $TRI

The Manufacturers Life Insurance Company acquired a new stake in shares of Thomson Reuters Corp (NASDAQ:TRI) in the second quarter, HoldingsChannel reports. The firm acquired 1,253,916 shares of the company’s stock, valued at approximately $102,215,000.

Other hedge funds also recently made changes to their positions in the company. Public Sector Pension Investment Board lifted its position in shares of Thomson Reuters by 0.8% in the second quarter. Public Sector Pension Investment Board now owns 13,098 shares of the company’s stock worth $2,629,000 after buying an additional 100 shares in the last quarter. Natixis Advisors LLC grew its holdings in Thomson Reuters by 0.6% during the 3rd quarter. Natixis Advisors LLC now owns 16,424 shares of the company’s stock valued at $2,551,000 after buying an additional 103 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Thomson Reuters by 1.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,834 shares of the company’s stock worth $885,000 after acquiring an additional 130 shares during the last quarter. Kestra Advisory Services LLC increased its stake in Thomson Reuters by 1.4% in the 1st quarter. Kestra Advisory Services LLC now owns 9,682 shares of the company’s stock worth $871,000 after acquiring an additional 134 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in shares of Thomson Reuters by 1.7% during the 4th quarter. Royal London Asset Management Ltd. now owns 8,037 shares of the company’s stock worth $1,060,000 after acquiring an additional 134 shares in the last quarter. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Scotiabank reiterated a “sector outperform” rating and set a $135.00 target price on shares of Thomson Reuters in a research report on Thursday, August 6th. Wells Fargo & Company set a $85.00 price objective on shares of Thomson Reuters and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. Bank of America dropped their price objective on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, May 19th. Royal Bank Of Canada increased their price target on shares of Thomson Reuters from $121.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Barclays reiterated an “overweight” rating and issued a $130.00 price target (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.83.

Thomson Reuters Trading Down 3.9%

Shares of TRI opened at $104.38 on Wednesday. The company’s fifty day simple moving average is $94.11 and its 200-day simple moving average is $92.17. The company has a market cap of $45.47 billion, a P/E ratio of 27.79, a P/E/G ratio of 1.59 and a beta of 0.75. 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 Corp has a twelve month low of $76.28 and a twelve month high of $180.00.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 EPS. As a group, analysts expect that Thomson Reuters Corp will post 4.45 EPS for the current year.

Thomson Reuters Dividend Announcement

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

About Thomson Reuters

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.