The Manufacturers Life Insurance Company boosted its position in shares of Thomson Reuters Corp (NASDAQ:TRI – Free Report) by 65.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,500,365 shares of the company’s stock after buying an additional 591,642 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Thomson Reuters were worth $135,297,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Thomson Reuters by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company’s stock valued at $762,320,000 after buying an additional 85,684 shares during the period. TD Asset Management Inc lifted its stake in shares of Thomson Reuters by 0.7% during the fourth quarter. TD Asset Management Inc now owns 4,664,372 shares of the company’s stock valued at $616,342,000 after acquiring an additional 33,418 shares during the period. TLT Family Holdco ULC acquired a new position in shares of Thomson Reuters during the second quarter valued at $865,442,000. SEG Family Corp. bought a new position in Thomson Reuters in the second quarter valued at about $659,930,000. Finally, Morgan Stanley boosted its holdings in Thomson Reuters by 31.2% in the fourth quarter. Morgan Stanley now owns 2,802,312 shares of the company’s stock valued at $369,597,000 after acquiring an additional 665,743 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently commented on TRI shares. Argus began coverage on Thomson Reuters in a research report on Wednesday, April 22nd. They issued a “hold” rating for the company. TD Securities restated a “buy” rating on shares of Thomson Reuters in a research report on Wednesday, May 6th. UBS Group set a $185.74 target price on shares of Thomson Reuters and gave the company a “buy” rating in a research note on Thursday, April 23rd. Weiss Ratings cut shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Finally, Wells Fargo & Company set a $85.00 price target on shares of Thomson Reuters and gave the stock an “equal weight” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.92.
Thomson Reuters Stock Up 5.7%
Shares of Thomson Reuters stock opened at $103.29 on Wednesday. The business has a fifty day simple moving average of $86.52 and a 200 day simple moving average of $94.62. The stock has a market cap of $44.99 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11. Thomson Reuters Corp has a 12 month low of $76.28 and a 12 month high of $204.46.
Thomson Reuters (NASDAQ:TRI – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.05. Thomson Reuters had a return on equity of 14.99% and a net margin of 19.93%.The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts predict that Thomson Reuters Corp will post 4.44 EPS for the current year.
Thomson Reuters Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a $0.655 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.5%. Thomson Reuters’s dividend payout ratio is 76.16%.
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.
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