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

Key Points

• Man Group initiated a $1.75 million position in Thomson Reuters during the second quarter, buying 21,392 shares. Other major investors, including Canada Pension Plan Investment Board and Legal & General, also added significant new stakes.
• Analysts maintain a generally positive view, with Thomson Reuters carrying a consensus rating of “Moderate Buy” and an average price target of $131.57.
• Thomson Reuters exceeded quarterly expectations, reporting $0.99 in adjusted earnings per share and $1.93 billion in revenue, up 9.5% year over year. The company also declared a quarterly dividend of $0.655 per share, equivalent to a 2.5% annual yield.

Man Group plc bought a new stake in Thomson Reuters Corp (NASDAQ:TRI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 21,392 shares of the company's stock, valued at approximately $1,747,000.

A number of other large investors have also recently made changes to their positions in the company. Jupiter Topco LLC purchased a new position in Thomson Reuters during the 2nd quarter worth approximately $1,099,000. Hsbc Holdings PLC purchased a new stake in Thomson Reuters in the second quarter valued at approximately $2,925,000. EFG International AG acquired a new stake in shares of Thomson Reuters in the second quarter valued at approximately $1,639,000. Canada Pension Plan Investment Board acquired a new stake in shares of Thomson Reuters in the second quarter valued at approximately $107,223,000. Finally, Legal & General Group Plc purchased a new position in shares of Thomson Reuters during the second quarter worth approximately $74,310,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on TRI. Royal Bank Of Canada upped their price target on shares of Thomson Reuters from $121.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 24th. Canaccord Genuity Group dropped their price objective 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. 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. Finally, Barclays reiterated an "overweight" rating and set a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Thomson Reuters presently has a consensus rating of "Moderate Buy" and an average price target of $131.57.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $106.35 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $96.78 and a 200-day simple moving average of $92.69. The company has a market cap of $46.33 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.74. Thomson Reuters Corp has a 12-month low of $76.28 and a 12-month high of $180.00.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.03. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. Thomson Reuters's quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts forecast that Thomson Reuters Corp will post 4.45 EPS for the current year.

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.655 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.5%. 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.

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