The Manufacturers Life Insurance Company Has $164.98 Million Stock Holdings in Thomson Reuters Co. $TRI

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Thomson Reuters Co. by 31.7% during the first quarter, holding 951,674 shares valued at approximately $164.98 million after selling 442,046 shares.
• Thomson Reuters reported a quarterly earnings per share (EPS) of $0.87, surpassing analyst expectations of $0.83, with a revenue increase of 2.6% year-over-year.
• The company announced a quarterly dividend of $0.595 per share, set to be paid on September 10th, reflecting an annualized dividend of $2.38 and a yield of 1.3%.

The Manufacturers Life Insurance Company trimmed its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 31.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 951,674 shares of the business services provider's stock after selling 442,046 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.21% of Thomson Reuters worth $164,981,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TRI. Mackenzie Financial Corp lifted its position in Thomson Reuters by 139.5% in the fourth quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock worth $1,370,564,000 after purchasing an additional 4,977,006 shares during the period. TD Asset Management Inc lifted its position in Thomson Reuters by 15.7% in the first quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock worth $951,477,000 after purchasing an additional 750,063 shares during the period. Canada Pension Plan Investment Board lifted its position in Thomson Reuters by 97.9% in the first quarter. Canada Pension Plan Investment Board now owns 414,960 shares of the business services provider's stock worth $71,620,000 after purchasing an additional 205,306 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Thomson Reuters by 55.7% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 403,243 shares of the business services provider's stock worth $69,597,000 after purchasing an additional 144,233 shares during the period. Finally, Nuveen LLC acquired a new stake in Thomson Reuters in the first quarter worth approximately $23,126,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Thomson Reuters Stock Down 0.4%

NYSE:TRI traded down $0.65 during trading hours on Monday, hitting $177.61. 1,132,455 shares of the stock traded hands, compared to its average volume of 894,063. The firm has a 50 day moving average price of $192.11 and a 200 day moving average price of $185.57. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a fifty-two week low of $151.60 and a fifty-two week high of $218.42. The firm has a market cap of $80.04 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 5.67 and a beta of 0.77.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the business earned $0.85 EPS. The company's revenue was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Thomson Reuters's payout ratio is 65.75%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group upped their target price on Thomson Reuters from $181.00 to $182.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. TD Securities upgraded Thomson Reuters from a "hold" rating to a "buy" rating and increased their price objective for the company from $275.00 to $285.00 in a research report on Thursday. Scotiabank upgraded Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the company from $188.00 to $200.00 in a research report on Wednesday, August 6th. Wells Fargo & Company cut their price objective on Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Finally, National Bankshares reiterated an "outperform" rating on shares of Thomson Reuters in a research report on Thursday, July 10th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $201.90.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.