The Manufacturers Life Insurance Company Sells 246,449 Shares of Thomson Reuters Corp $TRI

Key Points

• The Manufacturers Life Insurance Company reduced its Thomson Reuters stake by 16.4%, selling 246,449 shares in the second quarter and retaining 1.25 million shares worth approximately $102.2 million.
• Thomson Reuters reported stronger-than-expected quarterly results, with EPS of $0.99 versus the $0.96 consensus estimate and revenue of $1.93 billion, up 9.5% year over year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $131.57, while the company’s quarterly dividend implies a 2.7% yield.

The Manufacturers Life Insurance Company trimmed its position in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 16.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,253,916 shares of the company's stock after selling 246,449 shares during the period. The Manufacturers Life Insurance Company owned 0.29% of Thomson Reuters worth $102,215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in shares of Thomson Reuters during the 4th quarter worth about $448,000. AQR Capital Management LLC increased its position in Thomson Reuters by 30.3% during the first quarter. AQR Capital Management LLC now owns 17,152 shares of the company's stock worth $2,964,000 after buying an additional 3,988 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Thomson Reuters during the first quarter worth approximately $205,000. Prudential Financial Inc. bought a new stake in Thomson Reuters in the second quarter valued at approximately $234,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Thomson Reuters in the second quarter valued at approximately $646,000. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Stock Up 1.7%

NASDAQ TRI opened at $97.35 on Friday. 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 company has a market cap of $42.41 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.83 and a beta of 0.74. The company has a 50 day moving average of $99.67 and a 200-day moving average of $93.53. Thomson Reuters Corp has a 1-year low of $76.28 and a 1-year high of $173.79.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) 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 business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business posted $0.87 earnings per share. The firm's quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts expect that Thomson Reuters Corp will post 4.48 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a $0.655 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.7%. Thomson Reuters's dividend payout ratio (DPR) is presently 69.68%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Royal Bank Of Canada boosted their target price on Thomson Reuters from $121.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Scotiabank reiterated a "sector outperform" rating and issued a $135.00 price objective on shares of Thomson Reuters in a report on Thursday, August 6th. Scotia dropped their price objective on shares of Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 6th. Barclays cut their target price on shares of Thomson Reuters from $140.00 to $130.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Weiss Ratings upgraded shares of Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $131.57.

About Thomson Reuters

Thomson Reuters Corporation is a global provider of information, software, and technology solutions for professionals and institutions. Its products and services support legal professionals, corporations, tax and accounting firms, governments, and media organizations, helping customers manage regulatory requirements, research information, analyze data, and improve workflow efficiency.

The company's offerings include legal research and practice-management solutions, tax and accounting software, corporate compliance and risk-management tools, and products designed for government and regulatory users.

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