Man Group plc Invests $1.75 Million in Thomson Reuters Corp $TRI

Man Group plc purchased a new position in Thomson Reuters Corp (NASDAQ:TRI) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,392 shares of the company’s stock, valued at approximately $1,747,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRI. Empowered Funds LLC acquired a new stake in Thomson Reuters in the fourth quarter valued at $30,000. Timmons Wealth Management LLC acquired a new position in shares of Thomson Reuters during the 4th quarter worth $42,000. Montag A & Associates Inc. acquired a new position in shares of Thomson Reuters during the 4th quarter worth $43,000. J.Safra Asset Management Corp purchased a new stake in shares of Thomson Reuters in the 4th quarter worth about $56,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Thomson Reuters in the 1st quarter worth about $48,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Thomson Reuters Stock Down 0.9%

Shares of NASDAQ TRI opened at $106.35 on Wednesday. The firm has a market cap of $46.33 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51. Thomson Reuters Corp has a 1 year low of $76.28 and a 1 year high of $180.00. The firm’s 50 day moving average price is $96.78 and its 200 day moving average price is $92.69.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share 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 during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm posted $0.87 EPS. Thomson Reuters’s revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Thomson Reuters Corp will post 4.45 earnings per share for the current year.

Thomson Reuters Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TRI shares. Wells Fargo & Company set a $85.00 target price on shares of Thomson Reuters and gave the company an “equal weight” rating in a report on Tuesday, June 30th. Weiss Ratings raised shares of Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 24th. Canaccord Genuity Group lowered 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 report on Thursday, August 6th. Royal Bank Of Canada raised their price objective on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Scotiabank restated a “sector outperform” rating and set a $135.00 price objective on shares of Thomson Reuters in a research report on Thursday, August 6th. One investment 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.57.

Thomson Reuters 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.